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Andy Warhol’s Elizabeth Taylor Painting Up For Auction

Posted by on June 8, 2010 at 7:35 PM EST

Andy Warhol’s portrait of famous Hollywood screen legend Elizabeth Taylor will go up for auction in London. The painting named “Silver Liz” is expected to earn up to $12 Million during the Christie’s Auction of Post War and Contemporary Art scheduled for June 30th.  The portrait was painted in 1963, which was the first year Elizabeth Taylor earned her first million dollars for a movie role.

The “Silver Liz” Andy Warhol painting has never been on public display. It has been stashed away in a private collection for the past 20 years. Actor Hugh Grant once owned the piece and recently confessed he was drunk when he purchased “Silver Liz”. Hugh Grant bought the painting for $2 Million dollars in 2001 and sold it six years later in 2007 for $13 Million. Hugh Grant explained he was on a two-day drinking binge with his father when he ordered his assistant to bid for the painting at a New York auction.

Hugh Grant explained, “It all began with drink. I’d been having a drunken dinner with my father the night before. We ought to go see my brother Jamie. You know, the Concorde’s amazing. And he said, ‘I hear it is.’ So I bought him a Concorde ticket and we went. We had lunch, drank a lot of beer. And I was thinking about some stuff in the Sotheby’s auction and I saw the Liz Taylor. I slightly regret selling it now, even though it made me rich.”

Last year, three series of post-war and contemporary sales held in February, June and October raised millions of dollars. Critics claim the strength and recovery of the world economics have attributed to record breaking amounts earned in recent art auctions. Some expect “Silver Liz” to pull in more than the estimated $12 Million.



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