Jeff Koons' "Balloon Dog" is set to be put up for auction on Nov. 12 in New York City, according to reports out this week.
The whimsical piece is expected to be hugely popular and could fetch anywhere between $35 million to $55 million, according to pre-sale estimates.
The "Balloon Dog (Orange)" is a stainless steel sculpture that stand about 12 feet tall, and looks very much like a huge children's party balloon made into the shape of a dog.
The Orange version of the "Balloon Dog" is just one of a series of five, with each dog being a different metallic color.
Christie's says art collector Peter Brant is selling the Orange "Balloon Dog" to raise money for his Brant Foundation Art Study Center in Greenwich, Conn.
Koons' "Tulips" sold last year at Christie's for $33.6 million, which was in fact a new record for the artist.
Upcoming in January, a Jeff Koons retrospective opens at the Museum of Contemporary Art in Los Angeles. It will then move to New York's Whitney Museum of American Art in June 2014.