The first live and online auction of Andy Warhol’s works of art was organized on Monday in New York City. The event helped raise over $17 million and the money will be donated to Andy Warhol Foundation for the Visual Arts, says the Associated Press.
Christie’s was crowded with Andy Warhol’s fans on Monday as the artist’s works have been exposed for a live and online auction. The collection included 354 prints and photographs that may or may not have been presented to the public before. Visitors seemed to have liked all the items offered during the auction as $17 million were raised by end of the evening.
The most expensive item auctioned on Monday was “Endangered Species: San Francisco Silverspot”. The painting was sold for $1.2 million, according to the statement provided by Christie’s. The second most requested print was “Jackie”, a screen print and paper collage of Jacqueline Kennedy that helped the Foundation cash in over $626,000. The price was a lot bigger than expected as experts thought clients would offer at most $300,000.
As a matter of fact, the majority of the prints and photographs that were sold during the auction exceeded the initial estimates. “Self-Portrait in Fright Wig”, for instance, was sold for $50,000 even though its value was initially estimated at around $12,000 to $18,000.The money will be donated to Andy Warhol Foundation for Visual Arts in New York because the artist would have liked to expand the visual arts domain.
Joel Wachs, President of The Andy Warhol Foundation for the Visual Arts, told the press that the sales have increased the level of global access to Andy Warhol’s works. In addition, the Foundation will increase its philanthropic base in order to make sure that people get accustomed with the late artist’s prints and maybe, continue the pop culture he established in the 1960s.