Thursday, May 12, 2011

Andy Warhol First Self Portrait Goes for $38 Million at Auction

So much for deflation.

Get a load of this:

The painting,"Self-Portrait," a four-panel acrylic silk-screen from 1963-64 in hues of blue depicting the pop artist wearing a trench coat and sunglasses,was sold by the family of Detroit collector Florence Barron, who commissioned the work for $1,600 nearly half a century ago, making payments on an installment plan.

Other highlights, according to Reuters. included an untitled Mark Rothko from 1961 which fetched $33.7 million, soaring far past the high estimate of $22 million, and a Warhol self-portrait from 1986, among his last, which sold for $27.5 million, missing the $30 million low estimate.
Overall. the auction totaled $301.68 million in sales, beating the high pre-sale estimate, and set records for several artists. Only three of the 65 works on offer failed to sell, for an extraordinarily high sell-through rate of 95 percent


  1. Glad to see that some people are wealthy enough to waste money on such things. Would not be what I'd be buying.

  2. "So much for deflation."

    Woah! That seems a bit sloppy but alright.

  3. You forgot to include Krugman's thoughts on these prices.