ARTMARKET.COM – Artprice Explained Warhol’s $200 Million in Five Reasons – 09/05/2022 – 13H00

The glamorous face of Marilyn Monroe painted by perhaps the greatest artist in US history is poised to win the second highest auction ever. At least that’s what the prestigious auction house Christie’s claims, without really justifying its appreciation. Shot Sage Blue MarelliN (1964) It will be presented on May 9, 2022 in New York, where it could mark a new turning point in the art market.


Andy Warhol – Marlin Monroe (FS II.29) Ed.250, sold by Revolver Gallery at Artprice’s Marketplace

All conditions are met to reach a new teacher Thierry Ehrman, president and founder of and its art pricing division, confirms: Last year a Picasso painting sold for $103 million, but the record that really made an impression was a Beeple painting at $69 million. Then the market took real risks, which it hasn’t done since the sale of Salvatore Mundi in 2017: the only auction so far above $200 million. “.

Caution and common sense still do not prevail when it comes to bidding on truly creative work. However, Artprice identifies five good reasons that justify the $200 million estimate. The exceptional characteristics of the work and the perfect timing of the sale can stimulate the auction.

1. Andy Warhol’s rating is at an all-time high

Coming out of the health crisis, Andy Warhol’s rating is back on top. Sales of his works at auction reached $348 million in 2021, crossing the $300 million threshold for the first time in six years thanks to the sale of nearly 1,600 works worldwide. Andy Warhol once again became the third most successful artist in the world, behind Pablo Picasso and his friend Jean-Michel Basquiat.

On November 15, 2021, the web was published nine marlin (1962) was one of the centerpieces of the sale of the Macklowe Collection, the most valuable collection ever sold at auction. Sotheby’s was valued at between $40 and $60 million, and was finally purchased for $47.4 million. Without any frills, it enabled the relaunch of Warhol’s upscale market and reassured sellers.

2. The best era of creation

If Warhol’s works circulate in abundance in auction rooms, his masterpieces remain relatively rare, especially the most famous series, including Campbell Soup, Mao, Jackie Kennedy, etc. Among these paintings, almost all the colored pieces are now closed in large museums. So much so that among Andy Warhol’s five most beautiful historic auctions, four were done in black and white and the fifth in black and green. Nothing, to tell the truth, sports pop colors.

Top 5 Andy Warhol Auctions

1. Silver car crash (1963) – $105.4 million – 11/13/2013 – Sotheby’s NY

2. facebook trilogy (1963) – $81.9 million – 11/12/2014 – Christie’s New York

3. green car crash (1963) – $71.7 million – 05/16/2007 – Christie’s New York

4. Marlon oven (1966) – $69.6 million – 11/12/2014 – Christie’s New York

5. men in her life (1962) – $63.4 million – 11/8/2010 – Phillips de Bury New York

However, these five works have in common that they were created in the 1960s, the most creative decade of Andy Warhol’s career. The years in which the series will also be presented Shot Marilyn, including the piece that will be sold by Christie’s on Monday, May 9. Only one painting in this series has been auctioned so far: Shot Red Marilyn (1964), sold respectively for $4 million in 1989, then $3.6 million in 1994 by Christie’s of New York.

3. A work full of history

Shot Blue Marilyn (1964) part of a set of five portraits of the 1950s pagan actress that would once be painted by artist Dorothy Podber. The story goes that Andy Warhol would have naively accepted that she was “photographing” these works, believing, of course, that the young woman simply wanted to film them. The error was quickly corrected, and then the commercial genius of the American artist turned this incident to his advantage, by making these five paintings even more extraordinary, by adding another story to Marilyn’s legend, about the Factory, Pop Art and Repossession.

As Christie points out, it’s not just one of Andy Warhol’s most beautiful circulating pieces: does it come from one of the most legendary collections out there, that of illustrious art dealer and artist friend Thomas Amman? Like Leo Castelli, the latter contributed to making Warhol’s work famous, displaying it alongside 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 was the most successful post-war artist on the art market. Its success is based on a work recognizable among a thousand people and a radically innovative artistic approach which in many respects will open the paths of contemporary art. By questioning the reproducibility of works as well as the prejudiced relationship between art and money, his work has challenged many presuppositions.

However, these questions are being directly asked today by NFTs, a phenomenon whose success depends closely on the emergence of cryptocurrencies and plays with the diversity of the subject, to the point of creating 10,000 copies for the collections. ).

In May 2021, Christie’s also offered for sale in NFT form five Warhol digital works, found on floppy disk.

5. Very favorable economic situation

NFT sales helped restore the global art market in 2021. This new class of work made up just 1.4% of global sales revenue (with US$232 million), but results from Beeple, Pak or Larva Labs awakened art collectors ready to find them. Fairly predictable, fairly well-oiled technical market.

However, 2022 started off very cautiously, compared to the previous fiscal year. The London market recorded several very good results, including an impressive record for René Magritte of nearly $80 million, while Chardin’s work in Paris exceeded $26 million. However, sales have not actually started in New York. Thus, the month of May should be a great launch, with the most prestigious sessions of spring.

In this context it is sold Shot Sage Blue MarelliN (1964), in the form of a charitable sale.

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Copyright 1987-2022 Thierry Ehrman

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