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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Thursday, September 6, 2012

Warhol's Estate Sells His Art Collection

ArtThe executor of Andy Warhol's estate, the Andy Warhol Foundation for the Visual Arts, has decided to auction the remaining artwork that Warhol's estate owns. The estate originally gave a good number of paintings in Warhol's collection to establish the Andy Warhol Museum in his hometown of Pittsburgh. In addition, the estate has donated a great deal of money from past art sales. In the spirit of donation, the executor believes that his sale will further the goals of Andy Warhol. It is said that the estate might earn about $100 million from the sale of the remaining paintings in his artwork. The auction is set to begin in November of this year. 

See Julie Zeveloff, Andy Warhol's Estate To Sell Off Thousands Of Works For More Than $100 Million, Business Insider, Sept. 5, 2012.

Special thanks to Brian J. Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2012/09/warhols-estate-sells-his-art-collection.html

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