23rd October 2007
Jeff Koons’ eight foot high copy of a blue diamond has gone on display in New York before it’s sale next month.
The diamond is made of polished steel and chromium and is expected to fetch up to $20m. The diamond is considered a key item in Christie’s contemporary art auction.
Jeff Koons’ most famous piece to date is a ceramic statue of Michael Jackson and is pet monkey which fetched $5.6m six years ago. If the blue diamond reaches it’s expected price this will quadruple the return that was made on the Michael Jackson statue.
The price of $20m is considered ambitious but as the art market continues to remain buoyant due to money from Russia and the Far East.
The idea behind Jeff Koons’ Blue Diamond is as a cynical statement focused against the commercialisation of birthdays, holidays, Valentines and Easter. Blue Diamond is part of a series that focuses on this point.