Enduring value from the velvet underground

Collecting: Andy Warhol's art isn't a 15-minute wonder

For someone who once predicted that everybody would be famous for 15 minutes, Andy Warhol has had far more than his fair share. And there are no signs of his popularity declining.

"He was one of the great artists of the 20th century," says Susan Harris, director of the modern and contemporary prints department at auction house Sotheby's. "His imagery has such appeal. Young people can relate to it and it's instantly recognisable. Anyone who bought one of his prints in 1994 will certainly have seen a return on their investment."

Murray Macaulay of rival auctioneer Christie's agrees: "We've seen a definite increase in the value of Warhol's work, particularly in the last two or three years. There was an exhibition at the Tate Modern three years ago which helped boost interest, and it's looking very strong at the moment."

Tom Sokolowski, director of the Andy Warhol Museum in Pittsburgh, says part of Warhol's genius, and a reason for his enduring popularity, was that he produced accessible art.

"He used a style people were comfortable with," he says, "with subjects that people were familiar with, and in different sizes so that at least one would fit in their homes. He once said: 'Art galleries should be like department stores', letting you go in and shop for what you wanted. He understood the market and his popularity has lasted."

Warhol started off working in advertising in New York. Within three years he was the highest- paid illustrator in the city. A sale this week at Sotheby's includes a number of works that show his ability as an illustrator, along with his groundbreaking printmaking. A series based on the hammer and sickle (estimated value: £8,000 to £10,000) is one example, next to the unusual Details of Renaissance Paintings (£2,500 to £4,000).

One advantage of buying Warhol prints, as opposed to his paintings, is affordability. "He was one of the first artists to use silk-screen printing seriously," says Ms Harris. These are not just mass-produced prints. Each one is signed by him and stamped with a number. With the Mao set and the Marilyn set, for example, he did 10 different colour combinations and prin-ted 250 of each. It means that you can buy a genuine portrait by a great artist for under £10,000."

The Sotheby's sale includes sets of icons such as Marilyn Monroe (estimated value £230,000 to £260,000 for the whole set of 10), Chairman Mao (£2,000 to £8,000 each) and Liz Taylor (£4,000 to £6,000 each). It also includes what Warhol called his "10 Jews": photographs of personalities such as Einstein, Freud and the Marx Brothers (£30,000 for the complete set).

Mr Sokolowski says the artist's stock will continue to rise. "Warhols have such a personal style that, even if you hate them, you'd know a Warhol as soon as you saw one," he says. "If you saw one on someone's wall, you'd know they had money. It's a label - and Andy understood labels better than anyone."

Mr Macaulay agrees: "When you see the portraits of Marilyn Monroe, you think of Warhol before you think Monroe. He is so associated with the mid-20th century that the popularity of his work will certainly last."

The original paintings are the most valuable. One of Mick Jagger sold recently for $150,000, while one of Monroe fetched $17.5m. His first Campbell's Soup series, which originally went on the market in 1961-62 for $200, didn't sell at the time. Later, they went for for $37m.

Even Warhol-related items could be worth investing in. Christie's has a poster from an exhibition at the Tate in 1971, signed by the artist, for sale this week: it is expected to fetch £500 to £700. A couple of designs for the jacket of his book The Philosophy of Andy Warhol, which he also signed, have an estimated value of £1,500 to £2,000.

As with most collections, aim for the best-quality prints when investing in Warhol's works. "The condition of the prints that come up for sale varies a lot," says Ms Harris. "But if you get one in good condition, you'll know you have an original graphic work by an artist who was a master printer."

WARHOL'S WORKS

Prices

From £500 for a Warhol-related item to over £20m for an original painting of an icon.

More information

Christie's, www.christies.co.uk; Sotheby's, www.sothebys. co.uk; the Andy Warhol Museum, www.warhol.org; www.warhol.dk - a website dedicated to the artist.

2004 events

30 June: Pop Art 1954-1974, Christie's, London. 1 July: Andy Warhol and the Pop Generation, Sotheby's, London (viewing starts today).

Compare with the Independent: See how much you could save by switching credit cards. Compare now

Sport
Aaron Ramsey celebrates after opening the scoring in Arsenal's win over Hull `
sport
News
peopleActress speaks out against historic sexual assault claims, saying things have 'gone quite far now'

Arts & Entertainment
A stranger calls: Martin Freeman in ‘Fargo’
tvReview: New 10-part series brims with characters and stories

Life & Style
Guests enjoy food and cocktail parings by Chefs Jimmy Bannos, Jimmy Bannos Jr, Daniel Rose and Mindy Segal with mixologists Josh King and Alex Gara at Bounty & Barrel: A Jack Daniel's Single Barrel Dinner Series at Heaven on Seven on April 9, 2014 in Chicago, Illinois.
food + drinkSprinkle Palcohol 'on almost any dish' for 'an extra kick' firm says...
VIDEO
Arts & Entertainment
Shaun Evans as Endeavour interviews a prisoner as he tries to get to the bottom of a police cover up
tvReview: Second series comes to close with startling tale of police corruption and child abuse
Arts & Entertainment
Schwarzenegger winning Mr. Universe 1969
arts + entsCan you guess the celebrity from these British Pathe News clips?
News
politicsLabour launches the 'completely hollow' Easter Clegg
Sport
Luis Suarez celebrates after scoring in Liverpool's 3-2 win over Norwich
sport Another hurdle is out of the way for Brendan Rodgers' side
News
Portrait of Queen Elizabeth-II by David Bailey which has been released to mark her 88th birthday
peoplePortrait released to mark monarch's 88th birthday
Arts & Entertainment
The star of the sitcom ‘Miranda’ is hugely popular with mainstream audiences
TVMiranda Hart lined up for ‘Generation Game’ revival
Life & Style
The writer, Gerda Saunders, with her mother, who also suffered with dementia before her death
healthGerda Saunders on the most formidable effect of her dementia
Arts & Entertainment
Last, but by no means least, is Tommy Cooper and the fez. This style of hat became a permanent trademark of his act.
comedyNot Like That, Like This centres on alleged domestic abuse
Arts & Entertainment
Oxegen in Ireland has been axed as promoters decide it is 'no longer viable'
arts + ents Promoters have axed the event as it is 'no longer viable in current form'
News
The troubled star is set to give fans the biggest insight into her life away from the headlines
people Star made the announcement during the final episode of the programme, entitled Lindsay
Life & Style
YouTube clocks up more than a billion users a month
mediaEuropean rival Dailymotion certainly thinks so
Finacial products from our partners
Property search
Have you tried new the Independent Digital Edition iPad app?
Independent Dating
and  

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

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    Database Team Lead ( Leadership, Sybase, Computer Science)

    Negotiable: Harrington Starr: Database Team Lead ( Leadership, Sybase, Compute...

    C#.NET Delphi SQL Developer (C#,DELPHI,SQL)

    £40000 - £50000 per annum + Bonus+Benefits+Package: Harrington Starr: C#.NET D...

    VB.NET SQL Junior-Mid Level Developer (VB.NET,SQL,Excellent com

    £25000 - £35000 per annum + Bonus+Benefits+Package: Harrington Starr: VB.NET S...

    Trade Support, Application Support, Operations Analyst, CRM MS

    £45000 - £55000 per annum + Bonus and Benefits: Harrington Starr: Trade Suppor...

    Day In a Page

    Rubin ‘Hurricane’ Carter: The man who could have been champion of the world - and the Bob Dylan song that immortalised him

    The man who could have been champion of the world

    Rubin ‘Hurricane’ Carter and the Bob Dylan song that immortalised him
    Didn’t she do well?

    Didn’t she do well?

    Miranda Hart lined up for ‘Generation Game’ revival
    The Middle East we must confront in the future will be a Mafiastan ruled by money

    The Middle East we must confront in the future will be a Mafiastan ruled by money

    In Iraq, mafiosi already run almost the entire oil output of the south of the country
    Before they were famous

    Before they were famous

    Can you guess the celebrity from these British Pathe News clips?
    Martin Freeman’s casting in Fargo is genius

    Martin Freeman’s casting in Fargo is a stroke of genius

    Series is brimming with characters and stories all its own
    How I brokered a peace deal with Robert Mugabe: Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC

    How I brokered a peace deal with Robert Mugabe

    Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC
    Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'

    British Muslims's Happy video attacked as 'sinful'

    The four-minute clip by Honesty Policy has had more than 300,000 hits on YouTube
    Church of England-raised Michael Williams describes the unexpected joys in learning about his family's Jewish faith

    Michael Williams: Do as I do, not as I pray

    Church of England-raised Williams describes the unexpected joys in learning about his family's Jewish faith
    A History of the First World War in 100 moments: A visit to the Front Line by the Prime Minister's wife

    A History of the First World War in 100 moments

    A visit to the Front Line by the Prime Minister's wife
    Comedian Jenny Collier: 'Sexism I experienced on stand-up circuit should be extinct'

    Jenny Collier: 'Sexism on stand-up circuit should be extinct'

    The comedian's appearance at a show on the eve of International Women's Day was cancelled because they had "too many women" on the bill
    Cannes Film Festival: Ken Loach and Mike Leigh to fight it out for the Palme d'Or

    Cannes Film Festival

    Ken Loach and Mike Leigh to fight it out for the Palme d'Or
    The concept album makes surprise top ten return with neolithic opus from Jethro Tull's Ian Anderson

    The concept album makes surprise top ten return

    Neolithic opus from Jethro Tull's Ian Anderson is unexpected success
    Lichen is the surprise new ingredient on fine-dining menus, thanks to our love of Scandinavian and Indian cuisines

    Lichen is surprise new ingredient on fine-dining menus

    Emily Jupp discovers how it can give a unique, smoky flavour to our cooking
    10 best baking books

    10 best baking books

    Planning a spot of baking this bank holiday weekend? From old favourites to new releases, here’s ten cookbooks for you
    Jury still out on Manchester City boss Manuel Pellegrini

    Jury still out on Pellegrini

    Draw with Sunderland raises questions over Manchester City manager's ability to motivate and unify his players