Warhol portrait of Elizabeth Taylor to be auctioned

A portrait of the late Elizabeth Taylor by Andy Warhol will go under the hammer at Phillips de Pury in New York on May 12. The silkscreen picture, “Liz #5” (1963), is expected to fetch $20m-$30m.

Michael McGinnis, Phillip’s worldwide head of contemporary art, said, “Liz #5 is a pristine gem. It is Warhol at his very best with a perfect screen, glowing colors, and impeccable provenance. . . Liz #5 embodies everything that a major collector of 20th and 21st-century art desires and we are thrilled to offer this rare and exciting opportunity to the market”.

The vendor is a private collector who acquired the work from the estate of art dealer Ileana Sonnabend, an early admirer of Warhol. “Liz #5” remained in her personal collection until her death in 2007.

Despite coming to auction within two months of Taylor’s death, the work is unlikely to break any records. Another Warhol portrait of the actress, “The Men in Her Life,” from 1962, sold at Phillips for $63.4m in November 2010 – the second-highest price ever for a Warhol at auction (the record being some $71m for “Green car crash-Green burning car I” of 1963).

‘Contemporary Art Part I & II’, Phillips de Pury, New York, May 12 and 13

Details at www.phillipsdepury.com