Andy Warhol’s Foundation Partners with Christie’s on all future sales.
Insider Exclusive Offer:
Collectors, get ready: The Andy Warhol Foundation for the Visual Arts recently announced it will divest its entire collection of the late artist’s work through Christie’s. The collection contains all known Warhol works not already in private hands; and though the exact number of works hasn’t yet been disclosed, Christie’s says that the inventory is in the thousands and likely will require several years to sell. The foundation, which was created by Warhol to support and advance the visual arts, is selling the work in order to goose its endowment and be able provide more grants to emerging artists.
Christie’s isn’t waiting long to get started: It will begin the series of Warhol sales on November 12 with paintings, drawings, photographs, and prints from throughout the artist’s career, with individual lots estimated to be valued from roughly $4,000 to more than $1 million. Among the most notable works to be sold will be his iconic Self-Portrait (Fright Wig), 1986 (estimated to fetch from $15,000 to $20,000); Three Targets, 1985–1986 ($1 million to $1.5 million); and his 1960s-era screen print and collage of Jacqueline Kennedy, Jackie ($200,000 to $300,000).
Something tells us Warhol would be big in the Internet age, so it’s apt that, come February 2013, Christie’s will begin online auctions of Warhol’s work along with a promotional website that will provide all up-to-date sale-related information. In conjunction with the sales, the foundation will be donating significant works to museums in honor of the foundation’s 25th anniversary.