Warhol's Marilyn Monroe Might Fetch Record Sale for Art

In less than a month, one of Andy Warhol's famed portraits of Marilyn Monroe goes to auction — and while it has an estimate of $200 million, some think it could fetch up to half a billion dollars, which would make it the most expensive artwork of all time, according to Variety.

"Shot Sage Blue Marilyn," which is one of five portraits of Marilyn Monroe made by Warhol in 1964 in this size, each in different colors, will hit the block May 9. The estimate of $200 million is more like a jumping-off point.

"Two hundred is a huge benchmark. It's the highest reported estimate ever; it's the highest estimate ever put on an artwork," Alex Rotter, the Christie's chairman who's overseeing the sale, told Variety. "Could we have set more? You could always say more."

The piece of art was in the collection of the Swiss dealer Thomas Ammann, who died in 1993, and his sister Doris, who died in 2021, and proceeds will go to various charities. But why are these artworks so in demand? Dealer and authenticator Richard Polsky, who wrote the memoir, "I Sold Andy Warhol (Too Soon)" offered his thoughts to Variety.

"Whoever buys the Sage Marilyn, they will become world famous overnight," Polsky said. "This is no longer about trophy works; this is about eternal fame. It's like building a temple like the pharaohs did; it's about eternal life. This is a monument to yourself that goes beyond investment."

Commenting on what he thought the piece might sell for, Polsky said $500 million was a "nice round number." Rotter said he has received a considerable amount of interest in the work and although he would not speculate on where the piece would hammer, he was also not willing to put a cap on it.

"It's about the excitement in the marketplace and the once-in-a-generation opportunity to buy her, to buy this painting," he told Vanity Fair. "How much does it make? I don't know what it will make, but I will say that nothing's too much for her."