Jeff Koons’ pink heart reaches a record price of £11.3 million

Competing prices at Sothebys auctions such as Francis Bacons Bullfight painting, or a 710-year-old copy of the Magna Carta, Jeff Koons steal, pink heart beat the record of Brittish artist Damien Hirst by reaching the price of 11.3 million. The heart, which is made of steal, weighs 3,500 pounds (1,600 kilograms). The Hanging Heart (Magenta and Gold) sculpture was bought for £11.3 million at Sotheby's in New York by Larry Gagosian, America's most powerful dealer.

Hirst had only held the record since June, when Lullaby Spring, one of his trademark pill cabinets, went for £9.6 million at Sotheby's. The auction of contemporary art in November brought in £158 million and was the biggest in Sotheby's history.

Wouldn't it be a lot cheaper to buy a few fieces of French lingerie for your partner instead.

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