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Warhols fetch $17 million at Christie's

Relaxnews, AFP  New York, November 14, 2012
First Published: 13:14 IST(14/11/2012) | Last Updated: 13:39 IST(14/11/2012)
A plan to sell off the Andy Warhol Foundation's entire collection of works by the Pop artist got off to a $17 million start at Christie's in New York.

The sale on Monday in Manhattan saw 91 percent of lots going under the hammer. The 354 works auctioned were led by "Endangered Species: San Francisco Silverspot," which sold for $1.26 million, in the range of the pre-sale $1-1.5 million estimate.

"Endangered Species: Bighorn Ram," which had been estimated at $700,000 to $1 million, sold for $842,500. "Jackie" doubled its high estimate, going for $626,500.

The Andy Warhol Foundation for the Visual Arts announced in September it was dispersing of its collection to bolster its grant-making capabilities, with Christie's the long-term partner. Some of the works will be donated to museums.

Amy Cappellazzo, head of contemporary art development at Christie's, said Monday's first sale "was met with enthusiasm by established and new collectors globally, including successful bidders from mainland China, Russia, the European Union, the Middle East and the Americas."

"Today's sales have set the stage beautifully for the next offering of works from the Collection of The Andy Warhol Foundation for the Visual Arts, which includes a selling exhibition in Hong Kong and the debut of online-only sales in February."

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