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Andy Warhol art fetches $17 million at auction in sale of collection

The widely anticipated auction of the works of pop art icon Andy Warhol got off to a roaring start when his works fetched more than US$17million undertaken by Christie’s in New York. The proceeds of the show would be channelled for the Andy Warhol Foundation for the Visual Arts and it included a wide range of Warhol’s work which involved prints, paintings, photographs and others.

Among those that were sold included a candid photograph of John Lennon which were auctioned off for US$17,000 while there was a screen print and paper collage of the late Jacqueline Kennedy which overshot its estimated value of US$300,000 when it was sold off for US$626,000. According to Joel Wachs, the president of the Andy Warhol Foundation for the Visual Arts, the event was befitting the occasion which marks the 25th anniversary of the foundation since it was formed. Meanwhile, the chairman of the board, Michael Straus welcomed the results of the auction which would allow more engagement of the community with Warhol’s work which could further expand its programmes through the sale of the icon’s artwork.

The auction marks the first initiative under the partnership with Christies’ which will be selling off most of the collection of Andy Warhol’s work to help fund the programmes under the foundation. After this, from February next year, the sales of the artwork would only include online-only sessions for collectors around the world accessibility and the opportunity to own a piece of the pop art star’s artwork and other materials.