Sculpture by Jeff Koons

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RabbitArtistJeff KoonsYear

 ( )

MediumStainless steel sculptureSubjectRabbit

Rabbit is a series of three identical stainless steel sculptures by Jeff Koons. One of the editions of Rabbit is the most expensive work sold by a living artist at auction, being sold for $91.1 million in May .[1]

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In May , the sculpture was auctioned for $91.1 million, breaking the auction record for an artwork by a living artist.[2] The work, which was sold by the estate of the late magazine publisher S. I. Newhouse, was one in an edition of three (plus an artist's proof) and the last still held in private hands.[3] It was later revealed that the art dealer Robert Mnuchin purchased the work for the billionaire hedge fund manager Steven A. Cohen.[4]

In the initial sale of the work, Koons's art dealer Ileana Sonnabend kept one edition and sold the other two for $40,000 each: to the advertising magnate Charles Saatchi, and the painter Terry Winters.[5] In , Saatchi sold the piece to American collector Stefan Edlis for $945,000.[6] Around the same period, Larry Gagosian brokered the deal between Winters and Newhouse, for $1 million.[7] In , at Abu Dhabi Art, Gagosian remembered it as his favorite art deal and "the one transaction that stands out the most." Gagosian regretted not being able buy the piece himself, stating it was "a startling price at the time, a million dollars."

After Sonnabend's death in October , her heirs sold her edition of the piece as part of a package of art works for $400 million to GPS Partners &#; set up by the art dealers Philippe Ségalot, Lionel Pissarro, and Franck Giraud, on behalf of a consortium of collectors including Carlos Slim, Sammy Ofer, François Pinault, and Qatar's ruling Al Thani family.[2]

In , Edlis's edition of Rabbit was given as a partial donation to the Museum of Contemporary Art in Chicago, where it is still on display.[6]

The other edition of Rabbit is part of the permanent collection of The Broad in Los Angeles, where it is on view to the public as part of the museum's collection of Koons works.[8]

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Jeff Koons' 'Rabbit' Fetches $91 Million, Auction Record For Work By A Living Artist

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Seth Wenig/AP

Seth Wenig/AP

A 3-foot-tall silver bunny just set an art world record. Rabbit, by the playful and controversial artist Jeff Koons, sold for more than $91 million at Christie's Auction House &#; the most for work by a living artist at auction.

Robert Mnuchin, an art dealer and the father of the Treasury secretary, had the winning bid on behalf of a client.

The stainless steel sculpture is a faceless space bunny, a balloon that's not a balloon. The piece was one of 11 works that were offered from the collection of magazine publisher S.I. Newhouse, the longtime chairman of Condé Nast who died in .

"The work is considered the holy grail of Koons works among certain collecting circles, and the bunny's allure was burnished by the fact that Newhouse was its longtime owner," Artnet writes. "It also received an extraordinary pre-sale display at Christie's with a custom-built room that perched the rabbit on a pedestal surrounded by lighting mimicking a James Turrell installation."

In its lot essay, Christie's described Rabbit as melding "a Minimalist sheen with a naïve sense of play":

"It is crisp and cool in its appearance, yet taps into the visual language of childhood, of all that is pure and innocent. Its lack of facial features renders it wholly inscrutable, but the forms themselves evoke fun and frivolity, an effect heightened by the crimps and dimples that have been translated into the stainless steel from which it has been made. ... The steel surface of the titular bunny initially appears smooth and balloon-like, the forms reduced to some abstract, Platonic ideal."

The sculpture was cast in in an edition of just three, plus an artist's proof. The one sold Wednesday was the last one in private hands, with the others in the collections of the Broad Art Foundation in Los Angeles, the Museum of Contemporary Art in Chicago and the National Museum of Qatar.

The sculpture has become something of a cultural icon. Case in point: Rabbit was turned back into a balloon to float above Manhattan in the Macy's Thanksgiving Day Parade.

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Hiroko Masuike/Getty Images

Hiroko Masuike/Getty Images

With the sale, Koons retakes the mantle of most expensive living artist. He had lost it the title to David Hockney, whose painting Portrait of an Artist (Pool with Two Figures) sold at Christie's last year for $90.3 million. Previously, Koons held the distinction when his orange Balloon Dog sold for $58.4 million in .

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