$91m 'Rabbit' sets record for most expensive auction of living artist's work

Media playback is unsupported on your device                  Media caption The Gompertz guide to... Jeff Koons

Media playback is unsupported on your device Media caption The Gompertz guide to... Jeff Koons

A sculpture of a silver rabbit by artist Jeff Koons sold at Christie's auction house in Manhattan Wednesday for $91.1 million, setting the record for the highest amount fetched for a piece of art by a living artist.

Koons' "Rabbit", surpassed the previous record, which was set just last November when British painter David Hockney's "Portrait of an Artist (Pool with Two Figures)" sold for $90.3 million.

A security guard stands next to Jeff Koons' "Rabbit" from the Masterpieces from The Collection of S.I. Newhouse at Christie's NY press preview on May 3, 2019 as part of Christie's Post-War and Contemporary Art evening sale.

Christie's initially estimated that Koons' faceless "Rabbit" would sell for between $50 and $70 million.

FBN's Cheryl Casone on the sale of Jeff Koons' metallic sculpture of a balloon-animal rabbit for $91 million.

It set a record for the most expensive work by a living artist to be sold at auction. One is kept at the Broad Foundation in Los Angeles and another has been promised to the Museum of Contemporary Art in Chicago by its owners. "Its lack of facial features renders it inscrutable, yet its form evokes fun and frivolity". The sculpture was offered at Christie's from late magazine publisher S.I. Newhouse Jr.'s collection. It has not been publicly exhibited for more than 30 years. The US artist's sculptures have provoked controversy for decades after he emerged as a leading figure in New York's art scene in the 1980s. A painting from Claude Monet's "Haystacks" series went for $110.7 million at Sotheby's Tuesday to become the most expensive Impressionist artwork ever to sell at auction.

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