Thursday, December 19, 2013
The University of Texas at Austin has sued actor Ryan O'Neal attempting to gain possession of the Andy Warhol portrait of Farrah Fawcett that Ryan currently has. The jury heard from expert appraiser Lee Drexler who estimated the portrait is worth $12 million dollars. Her appraisal could be used to help a jury calculate damages. O' Neal claims that Farrah Fawcett did not own the piece of art work when she died and thus could not be lumped in with all of her other artwork which was left to the university. Instead, O'Neal says that Andy Warhol bestowed the work of art to him. If O'Neal wins, he plans to leave the portrait to his son, who he had with Farrah Fawcett. The university wants to show the art in its Blanton Museum of Art.
See Anthony McCartney, Correction: Fawcett-Warhol Dispute Story, Associated Press, Dec. 9, 2013.
Special thanks to Laura Galvan (Attorney, San Antonio, Texas) for bringing this article to my attention.