Koons was pushing to finish the series in time for a 1996 exhibition at the Solomon R. Guggenheim Museum in New York, but the show was ultimately canceled because of production delays and cost overruns. When "Celebration" funding ran out, the staff was laid off, leaving a skeleton crew of two: Gary McCraw, Koons' studio manager, who had been with him since 1990, and Justine Wheeler, an artist from South Africa, who had arrived in 1995 and eventually took charge of the sculpture operation. The artist convinced his primary collectors Dakis Joannou, Peter Brant, and Eli Broad, along with dealers Jeffrey Deitch, Anthony d'Offay, and Max Hetzler, to invest heavily in the costly fabrication of the Celebration series at Southern California-based Carlson & Company (including his Balloon Dog and Moon series), and later, at Arnold, a Frankfurt-based company. The dealers funded the project in part by selling works to collectors before they were fabricated. In 1999, his 1988 "Pink Panther" sculpture sold at auction for US$1.8 million, and he returned to the Sonnabend gallery. Well aware of Koons' bottomless needs and demands, Ileana Sonnabend and Antonio Homem, her gallery director and adopted son, nevertheless welcomed him back; in all likelihood they sensed (correctly, it turned out) that he was poised for a glorious second act—something that only he, among his generation of overpublicized artists, has so far managed to pull off. Koons, however, no longer confines himself to a single gallery. Larry Gagosian, the colossus of New York dealers, agreed to finance the completion of all the unfinished "Celebration" work, in exchange for exclusive rights to sell it.
While a student at the Maryland Institute College of Art, Koons fathered a daughter, Shannon Rodgers. Though he offered to marry the girl's mother, she felt that they were too young for the commitment, and the couple reluctantly put the child up for adoption. Shannon Rodgers reconnected with Koons in 1995.
Koons is now married to Justine Wheeler, an artist and former employee who began working for Koons' studio in 1995. The couple have six children. The family currently lives on several floors of an Upper East Side townhouse. In 2009, Koons purchased 11 East 67th Street for US$12 million. In 2010, he bought the neighbouring 10,000-square-foot mansion at 13 East 67th Street, the longtime home of Barbara Sears Rockefeller, for US$20 million. In 2014, he got approval to merge the two buildings into one mega-mansion, with a reported renovation cost estimated at US$4.85 million.