New sales record?
A 1960s portrait of Marilyn Monroe byAndy Warholwill be sold at Christie's in May. Shot Sage Blue Marilyn (1964) is expected to sell for around $200 million. If it meets expectations, the sale could nearly double Warhol's current record of $105.4 million, set when his 1963 Silver Car Crash (Double Disaster) screen was sold at Sotheby's in 2013.
The silkscreen painting shows a press photograph from the actress' 1953 film Niagara. This image was used byWarholrepeatedly in his work until his death in 1987. The work is being sold from the ownership of Swiss art dealers Thomas and Doris Ammann, brothers who co-founded Thomas Ammann Fine Art in 1977 — a gallery known for attracting collectors of modern and contemporary art. . All proceeds from the sale of Warhol's portrait will benefit his eponymous foundation, a charitable entity created by the family's trustees to benefit causes related to the health and education of children around the world. The Foundation is set to function for a period of only 3 to 5 years until the proceeds from the sale ofWarholare distributed in full, a Christie's spokesperson said in a statement.
the sale of the portrait ofWarholmarks another boost for the post-pandemic art market as large, long-awaited shipments become available in the Silent Generation collectors' collections. Before Thomas Ammann acquired the work in the 1970s, it belonged to New York publisher and collector SI Newhouse.Andy Warholproduced only five versions of the current painting, the rest of which remain in the private hands of major collectors such as American investors Peter Brant and Ken Griffin. On the importance of the work, Alex Rotter, president of Christie's for 20th and 21st century art, said at a press conference at the house's headquarters in New York, “this painting was a mystery to many people in the art world. When a painting like this comes up at auction, it changes the market not only for Warhol, but it changes the market itself.”