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Friday, March 25, 2011

Elizabeth Taylor Andy Warhol Could Bring $30 Million

An Andy Warhol original Elizabeth Taylor portrait could sell for $30 million at a Christie's auction in May, according to several reports. The painting will be put up for auction on May 12 at Christie's. A Hedge-fund manager Steve Cohen bought the rarely seen "Liz #5" silkscreen painting in 2005 for an undisclosed amount, according to the Wall Street Journal.Cohen reportedly elected to put the painting up for auction two weeks before Taylor's death. According a spokesperson for London based Christie's in statement to the L.A. Times "The events are not connected," referring to the sale of the Warhol in proximity to Taylor's passing. Warhol painted a series of Elizabeth Taylor portraits in 1963.  Christie's sold actor Hugh Grant's 1963 Warhol portrait of Taylor, "Liz," for $23.5 million four years ago, the Journal reported.

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