Jeff Koons Is Now The Top Selling Living Artist (At Auction)

by Deidre Woollard (RSS feed)
Nov 17th 2007 at 12:02PM

If the art market is any indicator of the economy it looks like things are pretty secure. Overall the fall art auctions in New York City ended up strong with the only down note being the Impressionist sale last week at Sotheby's which had the misfortune to take place on the day the stock market took a serious dip. Analysts now say the auction was just an isolated episode although at the time the auction house's stock plummeted. Sotheby's had a much better night with their contemporary art auction, it brought in $316 million, above expectations. The big star of the auction was one big work, Hanging Heart by Jeff Koons which went for $23.4 million setting a auction record for an artist who is still alive besting Damien Hirst who garnered the title last June. Two Francis Bacon pieces also sold for a combined $79 million.

The Hanging Heart is done in high chromium stainless steel weighs over 3,500 pounds and is almost nine feet tall. It was the second monumental piece that Koons sold during the fall auctions. His giant faceted blue diamond sculpture sold at Christie's for $11.8 million. Both pieces were bought by Larry Gagosian who is the art dealer for Jeff Koons.

[Thanks, Lana]

Tags: art, christie's, jeff koons, JeffKoons, new york, sotheby's

Filed under: Auctions, Art

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jk Nov 17th 2007 7:33PM

http://abcnews.go.com/Entertainment/popup?id=3234825

Damien Hirst is still leading the pack with his "Skull" that brought in 100,000,000.00$

just me Nov 19th 2007 4:26PM

I'm glad Larry Gagosian bought the pieces--he can sit on them until they are completely devalued, as it should be. I love contemporary art and all, but these two pieces are re-dic-u-lous, especially the very ugly and tacky diamond--who in their right mind would really want these in their homes? bought as an investment--maybe, and a bad one at that. Too much hype. Can't stand it. Give me a deKooning or Picasso anyday.