The $100m Warhol

Unique print projects pop artist into top-10 sellers list

In his rough cowboy gear, gun drawn, Elvis Presley is captured in the picture at his physical peak. Andy Warhol could easily have been forgiven for wanting to duplicate it.

The unusual thing about this Warhol, however, is that it is unique. Unlike the artist's other screen prints – which were run off, sometimes in hundreds of editions – he only made one of the work he called Eight Elvises.

This is why an unknown buyer has been persuaded to part with $100m (£60.5m) – in the depths of a recession – to buy the work in a private sale. It catapults Warhol straight into the top 10 list of the most expensive artists of all time.

An auction price of $43.8m (£26.5m) for his 200 One Dollar Bills in New York earlier this month confirms the once-controversial artist as the new Picasso; the marquee name in the art market and the most influential post war artist.

Although the sale of Eight Elvises was completed last year, details have only just emerged after a year-long investigation by the art writer Sarah Thornton, who published her findings in this week's Economist.

The picture, a 12ft canvas, has not been seen in public since it was exhibited in Los Angeles in 1963 as part of a much larger, 37ft canvas with 16 Elvises on it. Warhol had sent the screen prints for the work in several rolls. When that massive work was dismantled, Eight Elvises went back to being one distinct piece.

In the late 1960s, the work was sold to Annibale Berlingieri, an Italian collector, who never loaned it out despite several requests.

Warhol's body of work is huge. In all, he produced some 10,000 works between 1961, when he gave up graphic design, and 1987, when he died suddenly at the age of 58. Since 2002, he has consistently been one of the three most bought and sold artists. At the height of the art market boom, in 2007, auction sales of his work totaled $428m, the highest turnover of any artist.

"The remarkable thing about this painting is that it is a unique work," Ms Thornton said. "There are double and triple Elvises. But only one Eight Elvises, and he did hundreds of Jacqui Kennedy's, for example. It is exquisite. The way the eight Elvises overlap make it a remarkable work."

Although there is no doubt about the sale, the buyer remains a mystery, she said. There are, however, only a few individuals who would be able to afford such a work, and it is likely the new owner comes from the Middle East and is looking to invest in something more durable than property.

"It is a shocking amount of money," Ms Thornton said. "Warhol is now the marquee artist. If you look at the other artistic stars such as Damien Hirst, Richard Prince, Jeff Koons and Takashi Murakami, none of them would make sense without Warhol."

Arts and Entertainment
Art on their sleeves: before downloads and streaming, enthusiasts used to flick through racks of albums in their local record shops
musicFor Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
Arts and Entertainment
Serial suspect: the property heir charged with first-degree murder, Robert Durst
TV review
Have you tried new the Independent Digital Edition apps?
Arts and Entertainment

ebooksNow available in paperback
Arts and Entertainment

Arts and Entertainment
Igarashi in her

Art Megumi Igarashi criticises Japan's 'backwards' attitude to women's sexual expression

Arts and Entertainment
Could Ed Sheeran conquer the Seven Kingdoms? He could easily pass for a Greyjoy like Alfie Allen's character (right)

tv Singer could become the most unlikely star of Westeros

Arts and Entertainment
Beyonce, Boris Johnson, Putin, Nigel Farage, Russell Brand and Andy Murray all get the Spitting Image treatment from Newzoids
tvReview: The sketches need to be very short and very sharp as puppets are not intrinsically funny
Arts and Entertainment
Despite the controversy it caused, Mile Cyrus' 'Wrecking Ball' video won multiple awards
musicPoll reveals over 70% of the British public believe sexually explicit music videos should get ratings
Arts and Entertainment
Lena Headey as Cersei Lannister and Ian Beattie as Meryn Trant in the fifth season of Game of Thrones

Arts and Entertainment

book review
Arts and Entertainment
It's all in the genes: John Simm working in tandem with David Threlfall in 'Code of a Killer'

TV review
Arts and Entertainment
Far Right and Proud: Reggies Yates' Extreme Russia

TV review
Arts and Entertainment
Kanye West was mobbed in Armenia after jumping into a lake

Arts and Entertainment
The show suffers from its own appeal, being so good as to create an appetite in its viewers that is difficult to sate in a ten episode series

Game of Thrones reviewFirst look at season five contains some spoilers
Arts and Entertainment
Judi Dench and Kevin Spacey on the Red Carpet for 2015's Olivier Awards

Ray Davies' Sunny Afternoon scoops the most awards

Arts and Entertainment
Proving his metal: Ross Poldark (played by Aidan Turner in the BBC series) epitomises the risk-taking spirit of 18th-century mine owners

Poldark review
Arts and Entertainment
Eddie Redmayne is reportedly favourite to play Newt Scamander in Fantastic Beasts and Where to Find Them

Arts and Entertainment
Tom Hardy stars in dystopian action thriller Mad Max: Fury Road

Arts and Entertainment
Josh, 22, made his first million from the game MinoMonsters

Grace Dent

Channel 4 show proves there's no app for happiness
Disgraced Top Gear presenter Jeremy Clarkson
Arts and Entertainment
Game face: Zoë Kravitz, Bruce Greenwood and Ethan Hawke in ‘Good Kill’

film review

Arts and Entertainment
Living like there’s no tomorrow: Jon Hamm as Don Draper in the final season of ‘Mad Men’

TV review

  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

ES Rentals

    Independent Dating

    By clicking 'Search' you
    are agreeing to our
    Terms of Use.

    Revealed: Why Mohammed Emwazi chose the 'safe option' of fighting for Isis, rather than following his friends to al-Shabaab in Somalia

    Why Mohammed Emwazi chose Isis

    His friends were betrayed and killed by al-Shabaab
    'The solution can never be to impassively watch on while desperate people drown'
An open letter to David Cameron: Building fortress Europe has had deadly results

    Open letter to David Cameron

    Building the walls of fortress Europe has had deadly results
    Tory candidates' tweets not as 'spontaneous' as they seem - you don't say!

    You don't say!

    Tory candidates' election tweets not as 'spontaneous' as they appear
    Mubi: Netflix for people who want to stop just watching trash

    So what is Mubi?

    Netflix for people who want to stop just watching trash all the time
    The impossible job: how to follow Kevin Spacey?

    The hardest job in theatre?

    How to follow Kevin Spacey
    Armenian genocide: To continue to deny the truth of this mass human cruelty is close to a criminal lie

    Armenian genocide and the 'good Turks'

    To continue to deny the truth of this mass human cruelty is close to a criminal lie
    Lou Reed: The truth about the singer's upbringing beyond the biographers' and memoirists' myths

    'Lou needed care, but what he got was ECT'

    The truth about the singer's upbringing beyond
    Migrant boat disaster: This human tragedy has been brewing for four years and EU states can't say they were not warned

    This human tragedy has been brewing for years

    EU states can't say they were not warned
    Women's sportswear: From tackling a marathon to a jog in the park, the right kit can help

    Women's sportswear

    From tackling a marathon to a jog in the park, the right kit can help
    Hillary Clinton's outfits will be as important as her policies in her presidential bid

    Clinton's clothes

    Like it or not, her outfits will be as important as her policies
    NHS struggling to monitor the safety and efficacy of its services outsourced to private providers

    Who's monitoring the outsourced NHS services?

    A report finds that private firms are not being properly assessed for their quality of care
    Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

    Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

    The Tory MP said he did not want to stand again unless his party's manifesto ruled out a third runway. But he's doing so. Watch this space
    How do Greek voters feel about Syriza's backtracking on its anti-austerity pledge?

    How do Greeks feel about Syriza?

    Five voters from different backgrounds tell us what they expect from Syriza's charismatic leader Alexis Tsipras
    From Iraq to Libya and Syria: The wars that come back to haunt us

    The wars that come back to haunt us

    David Cameron should not escape blame for his role in conflicts that are still raging, argues Patrick Cockburn
    Sam Baker and Lauren Laverne: Too busy to surf? Head to The Pool

    Too busy to surf? Head to The Pool

    A new website is trying to declutter the internet to help busy women. Holly Williams meets the founders