andy-WARHOL-jackie-o-pics-auction-popup.jpgThe Andy Warhol Foundation for the Visual Arts is cashing out its entire collection of Warhols, selling some through Christie’s auction house and donating others starting this fall.

According to the New York Times
, the sales, which are expected to bring in about $100 million and will take several years to complete, will increase the foundation’s endowment from which it awards grants to nonprofit arts organizations.

Under the exclusive deal with Christie’s, the foundation will sell works — like the one above — through live auctions, online auctions and private sales with some pieces in the million-dollar range, many under $100,000 and a few less than $10,000.

“Remove the barrier of location and time, and you open it up to the broadest buying public possible,” says Amy Cappellazzo, the chairwoman of postwar and contemporary development at Christie’s. “I think if Andy were alive, he would have very much liked that.”

Posted by:Jennifer Harper