Andy Warhol art fetches $17 million at auction
New York, NY, United States (4E) – Works of noted artist Andy Warhol has fetched over $17 million at a recent auction in Christie’s in New York.
The proceeds of the sale held Monday, which included Warhol’s photographs, prints, paintings and other works on paper, were for the benefit of The Andy Warhol Foundation for the Visual Arts.
Foundation President Joel Wachs said in a press release, “This first sale has proved to be a fitting marker for the Foundation’s 25th anniversary year. The new level of global access to Andy Warhol’s work that this series of sales makes possible, along with the bolstering of our philanthropic base, makes this an important moment for the Foundation and indeed for the world of art.”
Michael Straus, Chariman of the Board of the Foundation said, “e warmly welcome the results of this first auction. It has allowed us to increase our grant-making capacity at a time when the arts community needs support and has engaged an ever-expanding audience with the art of Andy Warhol. Andy Warhol at Christie’s has advanced both our philanthropic programs and our work in keeping Andy’s legacy alive.”
Included in the sale were never-before-seen photos and paintings of Warhol. One candid photograph of Beatle John Lennon fetched over $17,000 and a screen print and paper collage of the late Jacqueline Kennedy fetched $626,000, more than double its estimated value of $300,000.
This is the Foundation’s first auction in the multi-year partnership it has established with Christie’s New York Auction House. Future sales will include online-only auctions starting February next year.