Jeff Koons’ $91M ‘Rabbit’ sculpture sets new auction record

A playful rabbit sculpture by Jeff Koons has become the most expensive work by a living artist ever to sell at auction.

The American artist’s “Rabbit,” a stainless steel figure measuring just over 3 feet tall, sold for more than $91 million Wednesday evening at Christie’s in New York, smashing auction estimates.

The new record comes just six months after David Hockney’s “Portrait of an Artist (Pool with Two Figures)” set a new benchmark for a living artist, when it sold for $90.3 million last November – also at Christie’s in New York. The British painter’s artwork had itself overtaken Koons’ “Balloon Dog (Orange)” sculpture, the previous record-holder, which went for $58.4 million in 2013.

Christie’s initially estimated that Koons’ faceless “Rabbit” would sell for between $50 and $70 million. But after more than 10 minutes’ bidding, the winning offer came in at $80 million which – including auctioneer’s fees – resulted in a final sale price of $91,075,000.

Prior to Wednesday’s sale, Christie’s had described the sculpture as “one of the most iconic works of 20th-century art.”

“It is crisp and cool in its appearance, yet taps into the visual language of childhood,” read a sale preview on the auction house’s website. “Its lack of facial features renders it inscrutable, yet its form evokes fun and frivolity.”

The American artist's 'Rabbit' sold for more than $91M.

Koons’ 1986 sculpture is one from of an edition of three, plus one artist’s proof. Another is kept at the Broad Foundation, in Los Angeles, while the third has been promised to the Museum of Contemporary Art in Chicago by its owners, according to Christie’s.

The edition featured in Wednesday’s auction came from the collection of the late media mogul S.I. Newhouse. It has not been publicly exhibited for more than 30 years.

“This was the piece that I have personally admired for 20 years, and always (had) dreamed of having for sale,” said Alex Rotter, chairman of the post-war and contemporary art department at Christie’s, during a press conference.

“You can think of Koons whatever you (like), but this is his best work,” he added.

A painting from Claude Monet's "Haystacks" series sold for $110.7 million in May 2019, making it the most expensive Impressionist artwork ever to be bought at auction.

David Hockney's "Portrait of an Artist (Pool with Two Figures)" set a new auction record for a living artist when it sold for $90.3 million in November 2018. That figure has since been overtaken by Jeff Koons' 1986 "Rabbit" sculpture, which sold for more than $91 million.

Zao Wou-Ki's abstract painting "Juin-Octobre 1985" has become the most expensive painting to ever sell at auction in Hong Kong.

Pablo Picasso, Les femmes d'Alger (Version 'O'), (1955). Oil on canvas -- Price Realized: $179,365,000 —

Pablo Picasso's Les femmes d'Alger previously held the auction record after selling for $179.4 million in 2015.

Edvard Munch, The Scream, (1895). Pastel on board in the original frame -- Price realized: $119,922,500 —

The sale of Edvard Munch's "The Scream" to billionaire Leon Black for $119.9 million in 2012 marked more than a new art record: it was the first time that a pastel, rather than an oil or acrylic painting, came anywhere near achieving such a price.

Gerhard Richter, Abstraktes Bild, (1994). Oil on canvas -- Price realized: $34,190,757 —

Rock star Eric Clapton sold his "Abstraktse Bild" by art star Gerhard Richter in 2012 for ￡21.3 million, establishing a new record for a living artist and the highest price ever paid for a Gerhard Richter painting.

Vincent van Gogh, Portrait of Dr. Gachet, (1890). Oil on canvas -- Price Realized: $82,500,000 —

Vincent van Gogh's "Portrait of Dr. Gachet" rocked the art world in 1990 when it sold to Tokyo's Kobayashi gallery for $82.5 million at Christie's -- more than twice the previous auction record.

Pablo Picasso, Gar?on a la Pipe, (1905). Oil on canvas -- Price Realized: $104,168,000 —

Pablo Picasso's "Gar?on a la Pipe" broke the $100 million ceiling when it sold at Sotheby's for over $104 million in May, 2004 -- the first painting to exceed the record set in 1990 for the "Dr.Gachet."

Lucian Freud, Benefits Supervisor Resting, (1994). Oil on canvas -- Price Realized: $56,165,000 —

The portrait of the ample-bodied Sue Tilley, a British government worker, was one of four such paintings the British artist produced of the woman he called "Fat Sue." The portrait achieved a record for the artist when it sold at Christie's New York in May, 2015.

Amedeo Modigliani, Nu couché, (1917-1918). Oil on canvas -- Price Realized: $170,405,000 —

Appetite for Modigliani's work had already been on the rise when this rare nude came up for sale. It set a new record for the artist -- and one of the highest prices ever set at auction -- when it sold at Christie's in November, 2015 to a Chinese billionaire bidding by telephone.

Record-breaking art sales

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More than 50 other artworks were sold at the evening sale, generating a total of almost $540 million. Other notable lots included Robert Rauschenberg “Buffalo II,” which set a new record for the artist’s work at just under $89 million, and one of Louise Bourgeois’ towering bronze “Spider” sculptures, which went for over $32 million.

The sale continues a record-breaking week for art in New York. 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.