A shiny stainless steel sculpture created by Jeff Koons in 1986, inspired by a child’s inflatable toy, sold at Christie’s on Wednesday night for $91.1 million with fees, breaking the record at auction for a work by a living artist, set just last November by David Hockney. Initially estimated to raise at least $50 million, the sculpture, made in an edition of three and one artist’s proof, was the last example left in private hands, according to Christie’s.
Robert E. Mnuchin, an art dealer and the father of Treasury Secretary Steven Mnuchin, made the winning bid for Mr. Koons’s 1986 “Rabbit” from an aisle seat near the front of the salesroom. The sculpture took 10 minutes and 40 seconds to sell for the record amount.
Produced in 1986, the sculpture stands at 3 feet tall. Its appearance resembles an inflatable balloon, but it is made from stainless steel. The faceless rabbit holds a carrot to its mouth.
Jeff Koons had previously set an auction record for the highest price paid for any work by a living artist in 2013 when his orange “Balloon Dog” fetched US$58.4 million at Christie’s in New York.
Image sources: http://www.hurriyetdailynews.com/artist-jeff-koons