Senior Concept Artist at @SES_dev, working on @Astroneergame | Prev: Valve, Runic Games, Riot Games, Toys for Bob, Microsoft, NASA 
|http://artstation.com/ness
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Furthermore the piece is called "The Comedian". What do you do when you walk into a highly esteemed art gallery and see a banana taped to a wall? You want to laugh, it's like a joke. The art is a success
The art is also successful in regards to the artist's larger body of work "[Cattelan's] work forces us to question how value is placed on material goods" A banana being sold for 120k is a great way to convey this & strike a conversation in the art world about wealth inequality
Anyway I think it's a success if only because it's got everyone talking about modern art. It's ok not to "get it", but the fact that art like this has personality, can actually hang in galleries, spark further art pieces, and be a topic of conversation is pretty damn cool
At first blush, most modern art appears obtuse but "The Comedian" seems pretty....digestible 
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I uh, I really like the banana-on-the-wall art piece. I think its an interesting high-concept work that sparked conversation & inspired another high-concept artist to respond to it--the man who ate the banana was an artist acting out a performance art piece