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Billionaire to Auction His Jeff Koons Sculpture in Aid of Ukraine

The artwork is estimated to fetch roughly $12.6m USD.

Over the past three months, artists and creatives from around the world have rallied in support of Ukraine amidst Russia’s invasion. Ukranian billionaire and philanthropist Victor Pinchuk and his wife Olena have joined efforts by announcing that they will auction off a sculpture by Jeff Koons at Christie’s 20th/21st Century Art sale.

The son-in-law of former Ukrainian president, Leonid Kuchma, Victor is the founder of Interpipe — a global producer of steel products for the gas and oil sector. The famed Koons sculpture, Balloon Monkey (Magenta), 2006-2013, is expected to garner roughly $12.6m USD when it hits auction later this month in London.

“Every fellow Ukrainian civilian killed or wounded by Russian shelling, shooting, and systematic violence means a wound in our souls,” Pinchuk said in a statement. “With the proceeds of the auction, we can help save lives. We can help make lives destroyed by war whole again.”

“Art’s true value is to be of service to humanity,” said Koons in a statement, adding, “there could not be a higher calling at this moment than to support the Ukrainian people.”

The sculpture will join an intriguing list of art, including Yves Klein’s Anthropométrie de l’époque bleue and Claude Monet’s Waterloo Bridge, effet de brume, amongst others. Christie’s 20th/21st Century Art sale celebrates the cultural dialogue between London and Paris and will commence on June 28.

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