Diddy is the proud owner of a modern painting by African-American artist Kerry James Marshall that he acquired during an auction at Sotheby’s on Wednesday (May 16).

The rap mogul reportedly paid $21.1 million for the painting, which was created by Marshall in 1997. During the auction, many people were wondering who the actual buyer was since they don’t get revealed during the initial sale of the painting.

However, Jack Shainman, Marshall’s gallerist and dealer in New York revealed to the New York Times that the Bad Boy Records founder was, in fact, the purchaser of the artwork. Mr. Marshall was also informed on who bought his painting as well.

"I know that this work has found a home in a collection with purpose and an eye toward preserving legacy — that of Sean Combs, and that means a lot,” he told the newspaper. "The world is recognizing Kerry James Marshall for the master that he is."

Diddy is now the owner of the most expensive piece of art created by a living African-American artist. The 48-year-old mogul was introduced to Marshall’s work through fellow businessman and art collector Swizz Beatz. The hitmaker, an avid painter himself, has been very vocal about his passion for investing in the art world.

A classically-trained painter, Marshall, who is a Chicago native, is known for his exuberant artwork on black life centering on youth, nudes, and families at leisure. His paintings can be viewed in such prestigious galleries such as the Museum of Contemporary Art Chicago, the Met Breuer in New York and the Museum of Contemporary Art, Los Angeles.

This is a good investment for Diddy and an excellent recovery after losing out on his bid to buy the Carolina Panthers.

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