In 1980 the Whitney Museum of American Art paid $1 million for "Three Flags" (1958), then the highest price ever paid for the work of a living artist. In 1988, Johns' "False Start" was sold at auction at Sotheby's to Samuel I. Newhouse, Jr. for $17.05 million, setting a record at the time as the highest price paid for a work by a living artist at auction, and the second highest price paid for an artwork at auction in the U.S. In 2006, private collectors Anne and Kenneth Griffin (founder of the Chicago-based hedge fund Citadel LLC) bought "False Start" (1959) from David Geffen for $80 million, making it the most expensive painting by a living artist. On November 11, 2014, a 1983 version of "Flag" was auctioned at Sotheby's in New York for $36 million, establishing a new auction record for Johns.