Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, May 10 2022 - 03:19
AsiaNet a Warhol at $200 million explained by Artprice in five points
PARIS May 9, 2022 /PRNewswire-AsiaNet/ --

The glamorous face of Marylin Monroe painted by arguably the greatest artist in 
the history of the United States is about to elicit the second highest auction 
bid the art market has ever seen. At least that's what the very prestigious 
auction house Christie's is hoping, without really justifying its estimate. 
Shot Sage Blue Marilyn (1964) will be offered on 9 May 2022 in New York, and 
its sale could well mark a new turning point for the art market.

Marilyn Monroe (FS II.29) by | Andy WARHOL | buy art online | artprice Bid on 
Marilyn Monroe (FS II.29), | Print-Multiple by | Andy WARHOL | Buy art works, 
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According to thierry Ehrmann, CEO and Founder of Artprice and the 
group, "All the conditions are in place for a new landmark. Last year, a 
Picasso painting sold for $103 million, but the record that really impressed 
was the $69 million for a work by Beeple. The market took real risks, which it 
had not done since the Salvator Mundi in 2017, the only result to ever cross 
the $200 million threshold". Caution and reason do not always prevail when it 
comes to bidding on a truly iconic work. But Artprice has nevertheless 
identified five reasons justifying an estimate of $200 million: the exceptional 
characteristics of the work and the perfect timing of the sale could indeed 
galvanize the bidding.

1. Andy Warhol's market at an apex

Coming out of the health crisis, Andy Warhol's prices are as buoyant as ever. 
In 2021, his auction turnover reached $348 million, exceeding the $300 million 
threshold for the first time in six years thanks to some 1,600 works sold 
worldwide. In terms of annual turnover, Andy Warhol was once again the third 
most successful artist in the world, behind Pablo Picasso and his friend 
Jean-Michel Basquiat.

On 15 November 2021, his painting Nine Marilyn (1962) was one of the 
centerpieces of Sotheby's Macklowe Collection sale, the most valuable 
collection ever sold at auction. Estimated between $40 and $60 million, the 
canvas was finally acquired for $47.4 million. A relatively modest result, it 
nevertheless marked the relaunch of the ultra high-end Warhol market and 
reassured sellers.

2. The best period of creation

While Warhol works circulate abundantly in auction rooms, his masterpieces 
remain relatively rare, in particular the most famous series, including 
Campbell Soup, Mao, Jackie Kennedy, etc. Among these paintings, the color 
pieces are now almost all in major museums. Of Andy Warhol's five best auction 
results, four have been works in black and white and the fifth, a work in black 
and green. None of them sport truly Pop colors.

Top 5 Andy Warhol auction results

1. Silver Car Crash (1963) – $105.4 million - 13/11/2013 – Sotheby's NY

2. Triple Elvis (1963) – $81.9 million - 12/11 /2014 – Christie's NY

3. Green Car Crash (1963) – $71.7 million - 05/16/2007 – Christie's NY

4. Four Marlons (1966) – $69.6 million - 11/12/2014 – Christie's NY

5. Men in her life (1962) – $63.4 million - 08/11/2010 – Phillips de Pury NY

These five works were all created in the 1960s, Andy Warhol's most creative 
decade. He also created the Shot Marilyn series in the 60s, including the piece 
that Christie's will be offering on Monday 9 May. Until now, only one painting 
from this series has been auctioned: Shot Red Marilyn (1964), which 
successively sold for $4 million in 1989, then $3.6 million in 1994 at 
Christie's in New York.

3. A work with a colorful history

Shot Sage Blue Marilyn (1964) is from a series of five portraits of America's 
most fetichized actress in the 1950s, a series that the performance artist 
Dorothy Podber apparently tried to shoot. The story goes that Andy Warhol 
naively accepted her request to "shoot" the works, thinking of course that the 
young woman wanted to photograph them. The error was quickly identified before 
any damage could be done, but the commercial genius of the American artist 
turned the incident to his advantage. By adding one more story to the myth of 
Marilyn, of the Factory, of Pop Art and of 'appropriation', Warhol succeeded in 
making the five canvases even more exceptional.

As Christie's points out, it is not just one of Warhol's most beautiful pieces 
still in circulation, it may also come from one of the most legendary 
collections there is, that of the illustrious art dealer and friend of the 
artist, Thomas Ammann. Like Leo Castelli, Ammann helped to make Warhol's work 
famous, exhibiting it alongside works by Francis Bacon, Jasper Johns, Mark 
Rothko, Cy Twombly and Jean-Michel Basquiat.

4. Icon of Post-War Art and NFTs

For fifteen years, Andy Warhol has been the most successful Post-War artist on 
the art market. His success is based on an oeuvre that is distinctly 
recognizable in all the different radically innovative artistic techniques with 
which he experimented, techniques that in many respects opened numerous paths 
for Contemporary Art. By questioning the reproducibility of works as well as 
the tendentious relationship between art and money, his work challenged many of 
the assumptions of the Post-War art market.

Similar questions are being posed today by NFTs, a phenomenon whose success is 
intimately based on the rise of crypto-currencies and which plays with 
"variations on a theme" to the point of creating 10,000 versions in PFP 
(picture for proof) collections.

In May 2021, Christie's offered five digital works by Andy Warhol (found on a 
floppy disk) in the form of NFTs.

5. An extremely favorable economic situation

In 2021, sales of NFTs contributed to the recovery of the global art market. 
This new category of work accounted for only 1.4% of global art auction 
turnover (with $232 million), but the results for works by Beeple, Pak and 
Larva Labs awakened collectors to the possibilities of a less predictable and 
less well-oiled art market.

Compared to last year, 2022 appears to have started rather cautiously, although 
London hammered several excellent results, including a superb new record for 
René Magritte at almost $80 million, and a work by Chardin exceeded $26 million 
in Paris. But sales have not yet really started in New York. The month of May 
will therefore mark the real start to the year, with New York's prestigious 
spring sessions.

It is in this context that the sale of Shot Sage Blue Marilyn (1964) will take 
place, with all proceeds going to charity.


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