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HomeBusinessThe $20,000 Duct-Taped Cheeto Puff: A Quirky Auction Sensation

The $20,000 Duct-Taped Cheeto Puff: A Quirky Auction Sensation

 

 

A Duct-Taped Cheeto Puff Fetches $20,000 Online – Here’s the Backstory


While a bag of Cheetos and some duct tape might cost you around $10, an art piece made from them has sold for much more.

 

Recently, Cheetos held an auction for a Cheeto Puff that was affixed to a wall with duct tape, which sold for $20,000 on Thursday. The identity of the winning bidder hasn’t been disclosed, but they will receive a Cheetos supply matching their bid amount.

This auction was inspired by a previous art auction where a banana duct-taped to a wall fetched around $6.2 million at Sotheby’s in New York.

“No disrespect to the potassium king, but we believe we can outdo that, so we’re having our own auction,” wrote Cheetos on Instagram on November 21. “Let’s show that banana who’s really in charge.”

 

The Instagram post generated over 2,000 likes and even caught the eye of global music sensation J Balvin, who commented, “Meeeeee.”

This piece, titled “Mischief,” is credited to Chester Cheetah.

“Created in 2024, this edition is 1 out of 1,” the auction description stated.

Banana Sold for Four Times Its Expected Price

On November 20, a banana stuck to a wall with duct tape sold for roughly $6.2 million at Sotheby’s in New York.

 

This banana art was created by Maurizio Cattelan and is known as “Comedian.” It was described as “highly discussed, deeply revered, and hotly contested” and was bought by a Chinese entrepreneur involved in cryptocurrency.

The final selling price was approximately four times its initial estimated value, which Sotheby’s had set between $1 million and $1.5 million. The banana itself was purchased for $0.35 before being attached to the wall for the auction, according to a report by the New York Times.

 

At the auction, “Comedian” started at a price of $800,000 and skyrocketed to $5.2 million, in addition to a buyer’s premium, before it sold, as reported by Reuters.

 

Who Acquired the ‘Comedian’ Banana?

Justin Sun, the founder of the Tron blockchain, is the one who purchased the “Comedian” banana, paying with cryptocurrency, as noted by Reuters.

 

Reportedly, he mentioned to the auction house that he intended to eat the banana.

“This artwork is more than just that,” Sun said in a statement shortly after his purchase. “It symbolizes a cultural phenomenon that links art, memes, and the cryptocurrency community. I believe this piece will spark more dialogue and thought in the future and will be part of history.”