Former UFC Owner Loses $110 Million Bidding War On Painting

Frank Fertitta, the former owner of the UFC, lost a $110 million dollar bidding war for a painting.

The painting was created by  Jean-Michel Basquiat and was originally selling at the auction for $57 million.

As the auction began, the price kept getting higher and higher as bidders bid on the painting of a human head.

Among those bidding was Nicholas Maclean, who was bidding on behalf of an unknown person.

On Sunday, The New York Times confirmed that unknown person was Frank Fertitta.

Maclean stopped bidding on the painting once the price hit $110 million. In the end, Japanese billionaire Yusaku Maezawa won the painting. After fees, the piece of art cost $110.5 million.

Last year, Fertitta, along with his brother, sold the UFC for over $4 billion. They had originally bought the UFC for just a couple million back in 2001.

In the photo below, you can see an image of the painting which Fertitta was willing to spend close to $110 million for.