The bright magenta “Hanging Heart,” considered one of Koons’ most important works, set records for any living artist at auction, Sotheby’s spokeswoman Lauren Gioia said, breaking the previous record set by Damien Hirst’s “Lullaby Spring,” which sold for $19.5 million at Sotheby’s in London in June. [IHT]
It is a lovely piece of art, but $23.6 million? I just can’t understand how artworks are priced.