Warhol's Elizabeth Taylor Painting Sells for $23.5 Million

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By Gillian Reagan

November 14, 2007 | 8:44 a.m.

Liz at Christie's.

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Sarah Jessica Parker, Marc Jacobs and Elizabeth Hurley all showed up to the Christie's auction last night, witnessing Andy Warhol's "Liz" painting sell for $23.5 million, according to The New York Times. The 40-inch-square painting, one from a series of 13, originally belonged to Hugh Grant, and will now be passed on to an anonymous bidder.

Although “Liz” sold below its estimate, it fetched the second-highest price of the evening. The entire sale produced a strong total: $325 million, against an estimate of $271.2 million to $373.3 million. Of the 66 works offered, all but five sold. (Final prices include Christie’s commission: 25 percent of the first $20,000, 20 percent of the next $20,000 to $500,000 and 12 percent of the rest. Estimates do not reflect commissions.