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The Surprising $120m Jeff Koons Sculpture

December 10, 2013 by Marion Maneker

Koons, Balloon Dog (Red)

 

Artist and acerbic art world commentator, William Powhida draws attention to this interesting trend in Jeff Koons’s market. This work is from a massive edition of 2300 works created in 1995 by Jeff Koons’s studio. Recent sales have established a fairly steady price level at around $11,000 or so. But in mid-November at Sotheby’s day sale, one of the works traded for $52,500. That’s a very big jump but the real surprise comes when one follows Powhida’s suggestion and multiplies the sale price by the edition size. Think of that as a total market capitalization for the work of $120,750,000.

Even at the previous price level of close to $11,000, the whole edition would be “worth” $25m.

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Filed Under: Auction Results Tagged With: Jeff Koons

About Marion Maneker

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