Urgent Jeff Koons Buy Alert !!! – artmarketblog.com

Urgent Jeff Koons Buy Alert !!! – artmarketblog.com

As one of the world’s most desirable artists, an artwork by Jeff Koons should be on the “must have list” of every art collector and art investor. A further incentive to secure a part of the phenomenon that is Jeff Koons is the $65 million dollars that the owner of Christie’s auction house, Francois Pinault, is rumoured (according to ARTINFO) to have just paid for the Koons “Rabbit” sculpture. If this rumour is true, the price Pinault paid for “Rabbits” is more than double the auction record for Koons and almost double the auction record for a work by a living artist ($33.6 million) which Lucien Freud achieved with “Benefits Supervisor Sleeping” in May of this year (taking the record from Koons’ “Hanging Heart”).
Another event that is sure to increase the desirability of Koons’ work is the Jeff Koons retrospective currently being held at the Chicago Museum of Contemporary Art until the 21st of September.

If you can’t afford a seven figure price tag then keep reading because I am about to tell you where you can purchase a Jeff Koons artwork that could actually be called affordable. As part of their fund raising efforts, The American Friends of the Tel Aviv Museum of Art (AFTAM) are offering an exclusive limited edition Jeff Koons silkscreen created specificallly for the AFTAM titled “Monkey Train (Blue), 2007”. Each print from the edition of 40 is printed on heavy, acid-free, archival paper and is signed, numbered, and dated in pencil. The price of each print is a relatively affordable $30,000 (beg or burrow for this one) $5000 of which is tax deductible in America according to a press release from the AFTAM (other countries refer to own tax rules regarding deductions). For more information or to purchase the print go here

If $30,000 is beyond your budget then you might like to consider another Koons edition in the form of a towel being sold by the Chicago Museum of Contemporary Art in conjunction with their Koons retrospective. This limited edition towel which features the same image as the AFTAM print is an edition of 2000, is 100% cotton and measures 60″x70″. According to the Chicago Museum website, “This edition made it’s premiere during Art Basel Miami 2007 and half of the proceeds generated from sales of this towel support the Koons Family Institute, a resource of the International Centre for Missing & Exploited Children.” Each towel costs $60 and yes, even a Jeff Koons towel is worth collecting.

I would strongly suggest that anyone considering purchasing a work by Jeff Koons should do so now because if the rumour of the $65 million sale is true then the desirability of Koons’ work will increase dramatically.  Even if the rumour proves to be untrue you should still buy a Koons now because the future looks extremely promising for the value of Koons’ work.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

8 Responses

  1. Dear Nick,
    I think you may be off the mark on this one. You are too young to remember the internet bubble, but the language you are using could have been lifted from any newsletter promoting the “hot” IPO’s of the day. If you take into account the market manipulation in Koons’ valuation, i.e. Gagosian “buying” his work at auction for record amounts, the ubiquity of his work and the prolific turnout of his product by a factory of > 60 workers, you might be left to ponder the limits of potential appreciation.
    I think the contemporary market is in a “tulipmania” phase and will eventually become less hype-driven and sane. Whether it takes one year or ten, it will happen.
    I would not urge anyone to spend $30K on a Koons print when far rarer and more culturally significant work by Rembrandt, Durer, Picasso and other modernists is readily available. If the speculating on contemporary artists is your “scene”, then consider Currin, Yuskavage, Eliasson, HIrst, Prince, the Leipziggers, the Chinese, etc. etc. or get intellectual stimulation and promote better art by buying artists like Hawkinson, Gober, Cecily Brown, Wangechi Mutu, etc. You can get more than one kick-ass print by any and all of these for a fraction of that.
    cheers, and keep up the good work.. always checking in on your latest entry.

  2. imo 30k isn’t just too much for this print, it’s almost criminal. While Koons is certainly a ‘good investment’ if you can get editions on the cheap. This print though (while not bad) isn’t great and it isn’t particularly large. Buying the balloon dog edition for $500 was a no brainer two years ago. Buying this print for 30k, also a no brainer, a NO BUY no brainer, not unless you really really love this image. If you’re buying it for investment it’s pretty risky if you ask me. I could be wrong…

  3. […] Go to the author’s original blog: Urgent Jeff Koons Buy Alert !!! – artmarketblog.com […]

  4. Hi Saul,
    Thanks for the comment. I am well aware of the internet bubble and purposely used similar terminology and language to attract as much attention as possible. There are certainly cheaper prints by other equally fantastic artists available but there is no denying the investment potential of Jeff Koons.

    Nicholas Forrest

  5. Nick,
    Govaert Flink was the Jeff Koons of another era. Do you know who Flink is, by the way? Granted Flink is still a buy, and anyone who has one in good condition has a historical object of serious monetary value. But the folks who bought Flinks once upon a time could have bought his contemporary Rembrandt for the same prices. Which do you think is more valuable now?

    Me, I wouldn’t give a nickel for Koons and I own works by unknown artists that I got at very reasonable prices that are a gazillion times better than Koon in his wildest dreams.

    Sorry, this is a PT Barnun op. My collection might not appreciate significantly in even my lifetime, but they are real works of art and their real value — the real value of all art — is not monetary. It’s their beauty and their intellectual and psychological qualities that I prize. I bought them to LOOK at. And I count myself a rich collector.

    Koons isn’t even as good as the “famous” Flink! So, I think I’ll pass.

  6. Dear Art Brute,

    I appreciate your comment but I am afraid that, with respect, you are wrong. $25,000 (minus $5000 tax deduction) for a very small edition original screenprint of museum quality is not expensive at all. Cheaper prints by Koons are available but this particular print is probably the best limited edition Koons work available on the market and with an artist such as Koons, quality and exclusivity are important factors.

    Nicholas Forrest

  7. Dear Aletha,

    Thanks for the comment. There is no doubt that Govaert Flink is a great artist but the point of my blog is to advise people how to make money from art investment. Whether Koons is as good as Flink is irrelevant to the investment potential of either artist. I am glad that you enjoy collecting art and encourage you to continue doing so.

    NIcholas Forrest

  8. Dear Nick,
    I understand a dealer’s need to make a living, but to buy art for it’s investment potential alone — gosh, I have to tell you that’s so sad.
    There’s more to life than money. And art has always been about this “more” that living is all about!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: