On occasion, Christie's has a direct financial interest in the outcome of the sale of certain lots consigned for sale. This will usually be where it has guaranteed to the Seller that whatever the outcome of the auction, the Seller will receive a minimum sale price for the work. This is known as a minimum price guarantee. Where Christie's has provided a Minimum Price Guarantee it is at risk of making a loss, which can be significant, if the lot fails to sell. Christie's therefore sometimes chooses to share that risk with a third party. In such cases the third party agrees prior to the auction to place an irrevocable written bid on the lot. The third party is therefore committed to bidding on the lot and, even if there are no other bids, buying the lot at the level of the written bid unless there are any higher bids. In doing so, the third party takes on all or part of the risk of the lot not being sold. If the lot is not sold, the third party may incur a loss. The third party will be remunerated in exchange for accepting this risk based on a fixed fee if the third party is the successful bidder or on the final hammer price in the event that the third party is not the successful bidder. The third party may also bid for the lot above the written bid. Where it does so, and is the successful bidder, the fixed fee for taking on the guarantee risk may be netted against the final purchase price.
Third party guarantors are required by us to disclose to anyone they are advising their financial interest in any lots they are guaranteeing. However, for the avoidance of any doubt, if you are advised by or bidding through an agent on a lot identified as being subject to a third party guarantee you should always ask your agent to confirm whether or not he or she has a financial interest in relation to the lot.
International With Monument Gallery, New York
Saatchi Collection, London
Gagosian Gallery, New York
Acquired from the above by the present owner
M. A. Staniszewski, “Hot Commodities,” Manhattan, Inc., June 1986, p. 159 (another example illustrated in color).
A. Jones, “Jeff Koons,” Galleries Magazine, October 1986, pp. 94-97 (another example illustrated in color).
F. Owen, “Neo-Geo,” I.D., February 1987, pp. 90-91 (another example illustrated in color).
P. Taylor, “My Art Belongs to Dada,” Observer, 6 September 1987, pp. 36-41 (another example illustrated in color).
Collins and Milazzo, “Radical Consumption,” New Observations, 1 October 1987, pp. 2-23 (another example illustrated in color).
A. Schwartzman, “Corporate Culture,” Manhattan, Inc., 1 December 1987, pp. 137-141 (another example illustrated in color).
R. Smith, “Rituals of Consumption,” Art in America, vol. 76, no. 5, May 1988, p. 165 (another example illustrated in color).
D. Kuspit, “The Opera is Over: A Critique of Eighties Sensibility,” Artscribe, September/October 1988, pp. 44-49 (another example illustrated in color).
R. Lacayo, “Artist Jeff Koons Makes, and Earns, Giant Figures,” People Weekly, New York, 8 May 1989, pp. 127-132 (another example illustrated in color).
D. Kazanjian, “Koons Crazy,” Vogue, August 1990, pp. 338-343 (another example illustrated in color).
J. Koons and R. Rosenblum, The Jeff Koons Handbook, London, 1992, p. 154.
A. Muthesius, Jeff Koons, Cologne, 1992, pp. 52-53 (another example illustrated).
T. Crow, “Marx to Sharks,” Artforum, April 2003, p. 48 (another example illustrated in color).
D. V. Agostinis, “Jeff Koons,” Arte Magazine, November/December 2004, no. 5, pp. 64-72 (another example illustrated in color and on the cover).
C. Long, “Loony Koons,” Tatler, vol. 3, no. 5, May 2007, pp. 11, 116-122.
H.W. Holzwarth, ed., Jeff Koons, Cologne, 2008, pp. 144, 146 and 585 (another example illustrated in color).
M. Sollins, ed., Art:21 - Art in the Twenty-First Century 5, Dalton, 2009, p. 90 (another example illustrated in color).
S. Sutcliffe, The Art of The Vintage, London, 2009, p. 331 (another example illustrated in color).
M. Archer, Jeff Koons: One Ball Total Equilibrium Tank, London, 2011, pp. 15, 18-19 (another example illustrated in color and on the front cover).
K. Johnson, Are You Experienced?: How Psychedelic Consciousness Transformed Modern Art, New York, 2011, p. 194 (another example illustrated in color).
E. Booth-Clibborn, ed., The History of the Saatchi Gallery, London, 2011, p. 150 (illustrated in color).
L. Blissett, “Sept moments-clefs dans une vie d’artiste,” Beaux Arts editions, December 2014, pp. 8-9.
London, Saatchi Gallery, NY Art Now, September 1987-January 1988, p. 132 and 237 (illustrated in color).
Chicago, Museum of Contemporary Art, Jeff Koons, July-August 1988, pp. 17, 39, 40, no. 9 (another example exhibited, illustrated and illustrated in color on the cover).
Amsterdam, Stedelijk Museum; Denmark, Aarhus Kunstmuseum and Staatsgalerie Stuttgart, Jeff Koons: Retrospective, November 1992-April 1993, pp. 18-19 and 98 (Amsterdam, incorrectly illustrated) and pp. 29 and 111 (Denmark, illustrated in color).
New York, Skarstedt Fine Art, Cindy Sherman, Mike Kelley, Jeff Koons, Richard Prince, April-May 1996.
New York, C & M Arts, Jeff Koons: Highlights of 25 Years, April-June 2004, n.p., pl. 12 (illustrated in color).
Greenwich, Brant Foundation Art Study Center, Remembering Henry's Show, May 2009-January 2010, pp. 91 and 174 (illustrated in color).
New York, New Museum, Skin Fruit: Selections from the Dakis Joannou Collection, March-June 2010, pp. 78-79 and 202 (another example exhibited and illustrated in color).
New York, Skarstedt Fine Art, 1980's Revisited, March-April 2013.
Modern Art Museum of Fort Worth, Urban Theater: New York Art in the 1980s, September 2014-January 2015, pp. 93 and 198 (another example exhibited and illustrated in color).