Art world breaking news: Jeff Koons Rabbit (1986) described by Christie’s as “one of the most iconic works of 20th-century art” sold for $91 million last night. With this sale Koons’ sculpture narrowly edged back into the title of the most expensive work by a living artist, previously held by Hockney’s Portrait of an Artist (Pool with Two Figures) (1972) which sold for $90.3 million in November. What does this mean for the art world? Bidders with the means to raise their paddles for over $10 million are still spending. If you want to see what all the fuss is about, the owners of one of the others in this edition of three has promised it to the Museum of Contemporary Art in Chicago. Click here to read more.