A three-foot tall stainless-steel sculpture of a playful rabbit by Jeff Koons sold for $91 million at Christie’s in New York Wednesday evening, making it most expensive artwork ever sold at auction by a living artist. CNN reports that the auction house had originally estimated that the sculpture, simply called Rabbit, would sell for no more than $70 million. Just 10 minutes into the bidding, the eventual buyer offered $80 million, which, coupled with auctioneer fees and taxes, brought the price to $91,075,000. The piece has been described as one of the most iconic works of the 20th century. “It is crisp and cool in its appearance, yet taps into the visual language of childhood,” as described in the auction sale bill. “Its lack of facial features renders it inscrutable, yet its form evokes fun and frivolity.” The rabbit was part of the late media mogul S.I. Newhouse’s personal collection and is one of three nearly identical rabbit sculptures by Koons.