This November, Christie’s and the Andy Warhol Foundation for the Visual Arts unveil the first of a highly anticipated series of auctions devoted to original artwork by Warhol from the Foundation’s collection. Proceeds from this unprecedented event will benefit the Foundation’s core grant-making programs and advance its mission of supporting contemporary arts organizations and artists.
The auction series begins with a full day of live auctions on November 12 which will offer more than 350 photographs, paintings, works on paper and prints – many of them never before seen by the public at large – with estimates ranging from $2,500-1,500,000. The three-part limited-edition catalogue includes essays by renowned writers Hilton Als, Jonathan Lethem and Jeanette Winterson, while the e-catalogue features an additional introduction by literary luminary Kurt Andersen.
The Andy Warhol Foundation for the Visual Arts, which was established in 1987, has made grants of around $250m to museums and non-profit organisations, individual artists, its sister organisation Creative Capital and the Andy Warhol Museum, Pittsburgh. The foundation manages the copyrights to Warhol images and trademarks to his name and signature. Its authentication board ran up $7m in legal fees fighting a lawsuit brought by the US collector Joe Simon-Whelan, who accused the board of attempting to monopolise demand for the artists work. The lawsuit was dropped in 2010.
The Art Newspaper : Warhol foundation to sell art worth $100m to boost endowment