Painting Goes For $195 Million at Auction – Record Setting Price!

Monroe Painting Auction $195m - Photo by Jarvik Joshi on Unsplash

Warhol’s Marilyn Monroe portrait sells for $195 million at auction – The Washington Post

On Monday night, a painting of Marilyn Monroe by Andy Warhol sold for $195 million, making it the most expensive work of art sold at auction in the 20th century.

Christie’s sale on Monday kicked off the spring auction season in New York, which has only begun to return to normal after two years of the coronavirus pandemic. The upcoming two weeks of auctions could raise as much as $2 billion.

Christie’s auction of works by Swiss art dealers Thomas and Doris Ammann did not have guarantees, and the proceeds went toward their foundation. The buyer of the Marilyn painting had a say in which charity 20 percent of the proceeds would be allocated.

The Ammann siblings founded a Zurich gallery specializing in Impressionist, Modern, postwar and contemporary artists. The gallery’s 36 works sold for $318 million, showing that top-quality pieces sell for top prices.

Christie’s auction was strong out of the gate, with 15 bidders on Ann Craven’s painting selling for $680,400, Mike Bidlo’s work selling for $1.3 million, Francesco Clemente’s painting selling for $1.9 million, and Cy Twombly’s painting selling for $17 million.

Rotter called “the most significant 20th-century painting to come to auction in a generation, ” the Marilyn silkscreen,” went for $200 million. Still, speculation in advance of the auction had the price as high as $400 million.

The big question hanging over this auction season is whether affluent buyers will pull the trigger on other high-priced works.

Christie’s and Sotheby’s will hold their evening sales of 21st-century art and 20th-century art, respectively, and Phillips will hold its evening sale of 20th-century and contemporary art, featuring a bright orange 1982 untitled Basquiat.

Warhol and Basquiat were competitors as well as collaborators and close friends. A poster promoting a joint show featured them in boxing gloves as if preparing to spar with one another.

Read more on this story at the following additional news sources:

  1. Warhol’s Marilyn Monroe portrait sells for $195 million at auction  The Washington Post
  2. Warhol’s ‘Marilyn,’ at $195 Million, Shatters Auction Record for an American Artist  The New York Times
  3. Warhol’s Marilyn Monroe portrait sells for $195m  Associated Press
  4. Warhol’s Iconic ‘Marilyn’ Sells For Record Sum, Proceeds Will Go To Kids Foundation  HuffPost
  5. Andy Warhol’s Marilyn Monroe portrait sells for $195 million  CNBC Television
  6. View Full Coverage on Google News
John Nightbridge is a veteran reporter, researcher, and economic policy major from UCLA. Passionate about world issues and potential ways to solve them is a significant focus of his work. Writing freelance and reading the news are John's passions at work. Outside of work, it's all about sky diving, surfing, and stock market modeling.