The Andy Warhol Foundation to Auction Off Entire Warhol Collection
The Andy Warhol Foundation for the Visual Arts in New York have announced that they plan to sell their entire collection of the artist’s work this year in order to raise money and support the visual arts by making donations to museums. The sales will be made through a series of auctions, private sales and online events with Christie’s auction house and will apparently go on for several years.
By the end of the sales, the foundation are expecting to have raised around $100 million USD. They plan to give around $13 million USD of this away each year in the form of grants to supplement the devastating decline in government arts support.