Andy Warhol's estate is cashing out, the Wall Street Journal reports A quarter-century after the Pop artist died, his art foundation is about to upend the Warhol market by auctioning off the rest of his estate—including more than 20,000 works it expects to sell for a total of more than $100 million.
The Andy Warhol Foundation for the Visual Arts said
Wednesday that it has enlisted Christie's to help sell off its remaining
inventory of silk-screen paintings, drawings, prints, collages, photographs and
archival materials because it no longer wants to broker occasional sales of
these objects on its own.
Chairman Michael Straus said the foundation aims to use the
proceeds to increase its $225 million endowment and expand the scope of its
art-related grant programs. "We're converting art into money," Mr.
Straus said. Warhol is one of the art
market's top commodities, and this selloff could significantly recalibrate his
prices…
No comments:
Post a Comment