Lady GaGa spent £40,000 on an 'Art Is Present' stone.

The 27-year-old singer purchased the lavish stone at an event thrown by the Watermill Center's Big Bang Benefit just outside New York City on Saturday (27.07.13).

The organisation helps raise money for emerging artists giving them the opportunity to work, learn and grown with one another.

Earlier that day, she made an appearance at the Museum of Modern Art to witness the work of famed performance artist Marina Abramović in her 'The Artist Is Present' exhibition, which involves the artist sitting static and silent with one person at a time invited to sit opposite her to create an intense experience.

This isn't the first time Gaga has splashed out thousands on an extravagant purchase.

Last month, she bought her boyfriend Taylor Kinney a £37,000 crocodile skin backpack for his 32nd birthday.

The unique backpack, designed and signed by artist Damien Hirst, is covered in mini-versions of Damien's spot paintings - which are rows of randomly coloured circles - and comes with a gold plated brass feet to rest it on.

A source previously said: ''Taylor loves his backpacks so she wanted to get him a real one-of-a-kind - only 12 have been made.''