Koons’ “Diamond (Blue)” estimate raised to $20 million

November 2nd, 2007

Photo ArtObserved

Back in September, we learned from BBC News, Bloomberg and the New York Times that Jeff Koons’ “Diamond (Blue)” was being auctioned at Christie’s for $12 million. A recent report from the Guardian UK stated that the piece was going to be estimated for $20 million, up $8 million from just a few months ago. What’s correct?

AO received the following e-mail confirmation from Christie’s:

“Thank you for your message. The Koons Diamond (Blue) has an “Estimate Upon Request,” and is roughly estimated at $20 million.”

Rear view; Andy Warhol’s “Liz” in the Christie’s display. Photo ArtObserved

“Roughly estimated”? What happened to $12 million? It should be an interesting sale, considering London’s contemporary auctions had some difficulty moving pieces by Western artists.