Warhol Foundation intends to sell in a few years at live auctions via the Internet and in private transactions in their possession to the collection of paintings, prints, photographs and drawings of the king of pop art. All sales will conduct the auction

Andy Warhol Jackie Kennedy. 1960
Source: nytimes.com

artist Andy Warhol Foundation announced the complete sale of his collection of paintings, prints, photographs and drawings of the king of pop art. The proceeds will be used for donations to museums and other non-profit cultural organizations. Several works will be donated to museums.

Warhol Foundation, supports the visual arts since 1987, for 25 years, has made donations totaling about $ 250 million. Recently, the size of grants fund was about $ 13 million a year. Their operating expenses fund covers the annual sale of several works from the collection. But the global sell-off - something unprecedented.

All sales will auction house Christie's. For several years, will take full-time auctions (starting with a November 12, 2012), including the auction works only one artist (Warhol, of course). In addition, from February 2013 artworks from the Warhol Foundation will be available via the Internet. At Christie's will be a subsite on the subject. At the auction house hoping through this bargain with the Fund to increase its presence in the online sales. And, of course, a number of works to be sold privately.

According to New York Times, millions of masterpieces in the collection fund no longer exists. However, it is quite important works - for example, a horizontal black and white silkscreen "Three targets" (estimate: 1-1.5 million) and a portrait of Jacqueline Kennedy, 1960 (estimate 200-300 thousand dollars). Many of the collection has never been exhibited. Total number of works were selling in the thousands: of these, only a few works from the seven-digit price tag, a lot of work to 100 thousand dollars and a few works up to 10 thousand dollars. The entire collection on the idea for a few years should generate around $ 100 million.

Prepared Maria Onuchina, AI

Sources : nytimes.com , artdaily.com , artinvestment.ru