The Andy Warhol Foundation to auction entire collection
The Andy Warhol Foundation for the Visual Arts in New York have announced that will auction their entire collection this year. The bold move comes in order to enable the foundation to fund the visual arts as a whole by making donations to museums. The move comes off the back of Government decisions to reduce arts support.
Expected to raise around US$100 million, auctions will run over 3 years through Christie’s with around US$13 million to be given away each year.