A Jeff Koons sculpture recently auctioned for $25.8 million, which is a new auction record for the artist.
The steel sculpture, Balloon Flower, was owned by neighborhood residents and avid art collectors Howard and Cindy Rachofsky. The 11-foot-2-inch-high artwork sat in the center of a pond at their Preston Hollow home.
According to a Bloomberg News story, the couple sold the sculpture so they could focus their private collection more on American minimalism, Italian postwar art and German paintings.