Sale of Warhol's Jacko portrait not so hot: auctioneers

NEW YORK - The auction of a portrait of Michael Jackson by Andy Warhol appeared Thursday to have met a lower sale price than initially expected.
The Vered Gallery on Long Island, outside New York, originally predicted anything up to 10 million dollars for the 1984 picture. After the auction closed late Wednesday the auctioneers said it had gone "in the range of millions."

Sale of Warhol's Jacko portrait not so hot: auctioneers
On Thursday, however, a new statement said only that the winner of the auction "paid over one million dollars for the unique work of art."
The buyer remained anonymous and "the final price paid remains undisclosed," the statement added.
The auction came less than two months after the pop king's death.
The portrait, measuring 30 by 26 inches (76.2 by 66 centimeters), was purchased for 278,500 dollars in May at the Sotheby's auction house.
The owner decided to sell after Jackson's sudden death created a wave of interest in memorabilia.

Thursday, August 20th 2009

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