Jeff Koons’ stainless steel “Rabbit” sculpture broke the record for most expensive art sold by a living artist at an auction at Christie’s on Wednesday night.
This record-breaking sculpture art piece was sold at Christie’s on Wednesday night for $91.1 million with fees, which surpassed the sell of the iconic painting by David Hockney, last November. A shiny stainless steel rabbit sculpture created by one of the richest artists of modern times, Jeff Koons. Created in 1986, this piece was inspired by a child’s inflatable toy.
The price, surpassing the $90.2 million with fees achieved, again at Christies auction, for Mr. Hockney’s 1972 painting, “Portrait of an Artist (Pool With Two Figures),” confirmed how Mr. Koons’s metal sculptures have become the ultimate billionaire trophies produced during the contemporary art boom of the 1980s and ’90s.
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The Hockney milestone came at the expense of Jeff Koons, the previous record-holder, whose “Balloon Dog (Orange)” sold at auction for $58.4 million in November 2013. Other notable sales included a Louise Bourgeois “Spider” cast in 1997, which sold for $32 million, a record for the contemporary artist and the second-highest price paid at auction for a work by a woman.
Robert E. Mnuchin, an art dealer and the father of Treasury Secretary Steven Mnuchin, made the winning bid for Jeff Koons‘ 1986 metal sculpture “Rabbit” from an aisle seat near the front of the salesroom.
Estimated to raise at least $50 million, this contemporary art sculpture, according to Christie’s this one the last piece to be handed to someone, hence the record-breaking value.
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