Even the rich are not rich enough for this $125m steel bunny

The art market has a 0.01 per cent problem. It was apparent on Wednesday at the contemporary auction at Christie's in New York, where a stainless steel rabbit by Jeff Koons sold for US$91 million (S$125 million), setting a record price for work by a living artist.

If it seems as if these sorts of records seem to be set much more often these days, it's because they are - just last autumn a David Hockney painting sold for US$90.3 million, the previous record for a living artist.

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A version of this article appeared in the print edition of The Straits Times on May 18, 2019, with the headline 'Even the rich are not rich enough for this $125m steel bunny'. Print Edition | Subscribe