Warhol sale fetches $17 million for charity


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The Independent Culture

The first in a series of live and online auctions to raise money for the Andy Warhol Foundation for the Visual Arts in New York has collected over $17 million (£10.7 million).

The auction at Christie's in New York featured works by Warhol ranging from prints to photographs, some of which have not been seen by the public.

The top sale was Endangered Species: San Francisco Silverspot, a print that fetched over $1.2 million.

Other highlights included Jackie, a screen print and paper collage of Jacqueline Kennedy that sold for over $626,0010. That's more than double its high estimate of $300,000.

The foundation said the money raised for its endowment from the sales would allow it to expand support of the visual arts, fulfilling Warhol's purpose in establishing it.

Joel Wachs, President of The Andy Warhol Foundation for the Visual Arts, stated: “This first sale has proved to be a fitting marker for the Foundation’s 25th anniversary year. 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.”

Yesterday's auction was the first of a number of phased sales by Christie’s of works from The Andy Warhol Foundation for the Visual Arts’ collection. Future sales in the series will include online auctions beginning in February 2013 and private sales conducted on an ongoing basis.