Sale: 529 / Post War / Contemporary Art, June 10. 2022 in Munich Lot 156

 

156
Jeff Koons
Balloon Dog (Blue), 2021.
Porcelain with blue, high-gloss metal coating
Post auction sale: € 20,000 / $ 23,200
+
Balloon Dog (Blue). 2021.
Porcelain with blue, high-gloss metal coating.
With the artist's name, the date and the number on the underside. From an edition of 799 copies. Ca. 38 x 48 x 15.8 cm (14.9 x 18.8 x 6.2 in).
Accompanied by a certifcate from the manufacturer and a gift box designed by Jeff Koons. With care and handling instructions. [AM].

• The 3 meter tall version of the "Balloon Dog" fetched the then world record price of almost 40 million euros at an auction in New York in 2013.
• Jeff Koons creates a charming illusion with his famous high-gloss balloon animals.
• Koons is represented in over 50 renowned museums, foundations and cultural institutions worldwide
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Commercial mass-produced goods, banal knick-knack and traditional sculptural elements form a truly unique combination in Jeff Koons' artistic oeuvre. Kitsch and commerce have been defining the artist's work since the 1980s, polarizing with his sometimes larger-than-life porcelain figurines and elevating brand-new vacuum cleaners to ready-mades worthy of museum exhibitions. Among his best-known works are the "Balloon Animals", with which the artist immortalizes the brightly colored, trendy aesthetics of balloons modeled into animal figures. A supposedly short-lived, everyday disposable product is elevated to an eternally beautiful work of art with the help of the flawless, highly polished surface. "The most important thing to me is the preservation of the object – the sense that it has been created to survive and that its longevity is certain", explains Koons (cited from: www.tate.org.uk/art/artists/ jeff-koons-2368/jeff-koons-banality-decadence-and-easyfun).



156
Jeff Koons
Balloon Dog (Blue), 2021.
Porcelain with blue, high-gloss metal coating
Post auction sale: € 20,000 / $ 23,200
+

 

Buyer's premium, taxation and resale right compensation for Jeff Koons "Balloon Dog (Blue)"
This lot can be purchased subject to differential or regular taxation, artist‘s resale right compensation is due.

Differential taxation:
Hammer price up to 500,000 €: herefrom 32 % premium.
The share of the hammer price exceeding 500,000 € is subject to a premium of 27 % and is added to the premium of the share of the hammer price up to 500,000 €.
The share of the hammer price exceeding 2,500,000 € is subject to a premium of 22 % and is added to the premium of the share of the hammer price up to 2,500,000 €.
The buyer's premium contains VAT, however, it is not shown.

Regular taxation:
Hammer price up to 500,000 €: herefrom 25 % premium.
The share of the hammer price exceeding 500,000 € is subject to a premium of 20% and is added to the premium of the share of the hammer price up to 500,000 €.
The share of the hammer price exceeding 2,500,000 € is subject to a premium of 15% and is added to the premium of the share of the hammer price up to 2,500,000 €.
The statutory VAT of currently 19 % is levied to the sum of hammer price and premium. As an exception, the reduced VAT of 7 % is added for printed books.

We kindly ask you to notify us before invoicing if you wish to be subject to regular taxation.

Calculation of artist‘s resale right compensation:
For works by living artists, or by artists who died less than 70 years ago, a artist‘s resale right compensation is levied in accordance with Section 26 UrhG:
4 % of hammer price from 400.00 euros up to 50,000 euros,
another 3 % of the hammer price from 50,000.01 to 200,000 euros,
another 1 % for the part of the sales proceeds from 200,000.01 to 350,000 euros,
another 0.5 % for the part of the sale proceeds from 350,000.01 to 500,000 euros and
another 0.25 % of the hammer price over 500,000 euros.
The maximum total of the resale right fee is EUR 12,500.

The artist‘s resale right compensation is VAT-exempt.