Jeff Koons' "Rabbit" becomes most expensive work sold at auction by a living artist

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Jeff Koons' 1986 sculpture "Rabbit" made art history in New York, breaking the record for the most expensive work sold at auction by a living artist. Art dealer Robert Mnuchin made the winning bid on Wednesday night at Christie's, reports "CBS This Morning" co-host Anthony Mason. 

The final price? $91 million. 

US artist Jeff Koons poses for photograp
Jeff Koons with "Rabbit 1986" at the Tate Modern in London on September 29, 2009 Ben Stansall/AFP/ Getty Images

"When it was first shown in 1986, there was a big stir about it," said Alex Rotter, Christie's co-chairman of post-war and contemporary art. "The opinions would vary from like horrible to amazing."

This was not the first time a piece by Koons has held the record. "Balloon Dog (Orange)" sold at auction in 2013 for $58.4 million and remained the record holder until last year. That's when British artist David Hockney's painting, "Portrait of an Artist (Pool with two Figures)" sold for $90.2 million.  

Mason visited Hockney at his studio in 2016. "Why do you think you've been so popular over the years?" Mason asked him.

"I like to think it might be the space in the pictures. You don't know why things become memorable. If there was a formula for them, there would be a lot more of them," Hockney said.

Hockney held the honor for just six months until Koons reclaimed the title this week.