Warhol's Jackson portrait sells for 'millions'

19 Aug 2009, 1:57 pm   -   Source: AFP/SBS
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Andy Warhol's portrait of Michael Jackson attracted huge interest

Andy Warhol's portrait of Michael Jackson attracted huge interest

A portrait of Michael Jackson by Andy Warhol has been auctioned for "millions" of dollars in New York, less than two months after the pop icon's death.

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A portrait of Michael Jackson by Andy Warhol has been auctioned for "millions" of dollars in New York, less than two months after the pop icon's death.

"The auction was quite successful," said Janet Lehr, owner of the Vered Art Gallery, after Tuesday's sale. "We can't talk about price. We don't report price. It's in the range of millions."

The gallery earlier estimated that the portrait, which measures 76 by 66cm, could fetch $US10 million ($A12.11 million).

The deal, Lehr said, was a good one for both the buyer and the seller.

Massive interest

"A speculator outdid the art collectors," she said, without revealing the buyer's identity. "He took advantage of the situation."

The portrait was purchased for $US278,500 in May at Sotheby's auction house, and the buyer decided to sell it after Jackson's sudden death on June 25 shocked the world and sparked
renewed interest in the tragic life of the 'King of Pop'.

The auction was to conclude on July 12, but Vered Art stopped the sale after receiving a massive amount of inquiries. The gallery had received offers online and by telephone.

In recent years, other Warhol portraits of Jackson have found no buyers, including one put on the auction block in London in 2008.

 

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An Artist - from Perth, 3 years ago

It annoys me that they are so coy about the price.. "we don't report price" -to me it seems they are simultaneously embarrassed and smug about it.. if the art is being peddled for huge profit, they should at least admit it, as well as make the buyer's name public.. At least I hope they will spend some of the millions and millions of dollars on redesigning their website- the Vered Gallery site looks like a 90s "make-a-website project" from a school student! ..And it's not even being ironic!

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