The Jeff Koons statue features the so-called King Of Pop with his chimp chum Bubbles...

A sculpture of MICHAEL JACKSON and his pet monkey BUBBLES has fetched $5.6m (£3.8m) at an art auction in NEW YORK, setting a new record for the artist JEFF KOONS.

Koons created the porcelain statue, which shows Jackson with his arm around the chimp and was based on a publicity photograph, in 1988.

The piece was part of the artist’s ‘Banality’ series. His previous exhibitons have included a giant topiary puppy outside New York’s Rockefeller Center and toys and balloons.

The auction took place at Sotheby’s in New York.