Warhol Sale Fetches $17 Million for Charity
The Andy Warhol Foundation for the Visual Arts in New York, which recently had its quarter century anniversary, has raised more than $17 million (£10.7 million) in an auction.
The event, which took place at Christie’s in New York, is the first in a series of live and virtual auctions planned to generate funds for the foundation. The featured items for sale were Warhol works that included prints and photographs, many of which have remained hidden from the public eye until now.
The highest bid was a for a print titled “Endangered Species: San Francisco Silverspot.” The work brought in more than $1.2 million. Another important sale was “Jackie”, a screen print and paper collage featuring Jacqueline Kennedy. It sold for twice its estimated worth of $300,000. The final bid on “Jackie” at the auction was $626,010.
Andy Warhol began the foundation to provide support for the visual arts community. The funds amassed at this event will support this community, supporting Warhol’s goal.
The Andy Warhol Foundation for the Visual Arts President, Joel Wachs, said that, “This first sale has proved to be a fitting marker for the Foundation’s 25th anniversary year.”
He added that, “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.”
The auction was only the first of many planned by the Andy Warhol Foundation for the Visual Arts. Christie’s will again play host to the sale of many items from the foundation’s collections. Auctions to occur at a later date will involve an online component. They will begin in February next year. Meanwhile, private sales will continue on a regular basis.