04/07/2011 09:42 am ET Updated Jun 07, 2011

Bronze Teddy Bear Sculpture On Display At Seagram Plaza

MANHATTAN — A gigantic yellow teddy bear will be unveiled in Seagram Plaza Friday before being auctioned off by Christie's for, presumably, a similarly large sum, according to the auction house.

The 23-foot bronze bear, shown leaning up against a massive table lamp, is expected to sell for around $10 million on May 11, a Christie's spokeswoman said.

But for the next five months, the neon behemoth, created by Swiss artist-turned-New Yorker Urs Fischer, will be on display for locals and visitors to enjoy in front of the Seagram Building at 375 Park Ave., between East 52nd and East 53rd streets.

The humongous sculpture was already being installed at the Park Avenue location on Wednesday, the Christie's spokeswoman said.

Visitors can stop by to see the sculpture during the day or at night, when the lamp will be turned on to illuminate the Godzilla-sized toy.

The floor below the plaza had to be reinforced to accommodate the bear's massive girth, according to the spokeswoman.