Andy Warhol’s portrait of Marilyn Monroe sold for $195 million

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“The Women of Algiers (Version O)” by Pablo Picasso is no longer the most expensive 20th-century work of art ever sold. The sale price of 179.4 million dollars for this work has just been beaten.

One of Andy Warhol’s portraits of Marilyn Monroe just broke Picasso’s previous record of over $15 million, selling to an unknown buyer for $195 million at Christie’s auction house in New York . The work, named “Shot Sage Blue Marilyn” and dating from 1964, is part of a series of screen-printed portraits that Warhol created after Monroe’s death in 1962. They are based on an image from the film. niagara with Monroe.

“Tonight was a historic night for Christie’s and for the entire contemporary art market,” Alex Rotter, Christie’s president for 20th and 21st century art, said in a statement. “The record sale of Warhol’s iconic portrait of Marilyn from the collection of Thomas and Doris Ammann speaks to the strength, vibrancy and general excitement of the art market today. This sale demonstrates the pervasive power of Andy Warhol as well as the lasting legacy he continues to leave in the world of art, popular culture and society.”

According The New York Times, the auction took place in just under four minutes at Christie’s New York auction house. Proceeds from the sale will be donated to charities that provide educational and medical services to children, and the buyer of the work has been invited by the auction house to actively participate in the foundation’s mission for the child care. Additionally, subject to foundation approval, the buyer will be able to decide which charities and organizations will receive 20% of the sale proceeds.

In addition to “The Women of Algiers (Version O),” Warhol’s “Shot Sage Blue Marilyn” also eclipsed the auction price of an untitled skull painting by Jean-Michel Basquiat, which snagged amounted to $110.5 million in 2017.

“For 250 years Christie’s has proudly preserved the greatest works of art across generations and tonight we made history again,” Christie’s Chairman Marc Porter said in a statement. “The funds we have raised tonight with the sale of this exquisite collection will go directly to improving the health and well-being of children and young adults. Philanthropic initiatives are of the utmost importance to our core values. At Christie’s, we believe giving back to our global communities is essential. It has been a true privilege and honor to work so closely with the Thomas and Doris Ammann Foundation to organize such a generous sale.

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