Andy Warhol Foundation To Sell Its Entire Collection Of Artist’s Works
Warhol (1926-87) (oil on tempera on paper laid on board) by Trevor Neal
The Andy Warhol Foundation for the Visual Arts in New York will be selling its entire collection of the artist’s works this fall.
Through a series of auctions, private sales and online events with Christie’s auction house, the foundation hopes to raise money for its endowment—to expand its support of the visual arts, and fulfil Warhol’s purpose in establishing it, and make donations to museums.
According to the New York Times, the sales would take several years to complete and is expected to garner about US$100 million.
The collection ranges from the artist’s prints and paintings, to photographs, some of which have not been seen by the public.
Steve Murphy, chief executive of Christie’s, said that the sales would bring Warhol’s work to people “who never before imagined” they could own any.
The foundation also hopes to make grants of about US$13 million a year, and fill the void of the declining and private and government arts support.
[via New York Times]