Warhol’s ‘Shot Sage Blue Marilyn’ painting fetched $195 million at Christie’s

CAIRO – 10 May 2022: Andy Warhol's Marilyn Monroe painting became the most expensive 20th century painting after it was sold for $195 million at an auction organized by Christie's, according to the American press.

Painted in 1964, the dazzling artwork was acquired by New York art dealer Larry Gagosian.

According to the media, Shot Sage Blue Marilyn was one of the most prominent collections of Swiss artists Thomas Ammann and his sister Doris, both deceased. The buyer is Larry Gagosian, owner of the famous New York Gallery, who is of Armenian descent. It is not known whether Gagosian is acting on behalf of himself or on behalf of another client.

Christie's Auction House estimated that Warhol’s artwork could fetch up to $200 million. However, total commissions amassed to $195 million (€184 million), which is a historic figure, even if there was no significant increase.

What is striking about this event is that experts were expecting that Warhol’s painting might not be sold at this price in light of what the world is witnessing from accelerating inflation and the Russo-Ukrainian war. After the auction, Guillaume Cerruti, general manager of Christie's, said the sale process was very flexible.