NEW YORK — A piece of conceptual art consisting of a simple banana, duct-taped to a wall, sold for $6.2 million at an auction in New York on Wednesday, with the winning bid coming from a prominent cryptocurrency entrepreneur.

''Comedian,'' by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach, as festivalgoers tried to make out whether the single yellow piece of fruit affixed to a white wall with silver duct tape was a joke or cheeky commentary on questionable standards among art collectors. At one point, another artist took the banana off the wall and ate it.

The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,00...