Eli Broad buys Warhol painting for $11.7 million
Los Angeles philanthropist Eli Broad bought Andy Warhol’s painting “Small Torn Campbell Soup Can (Pepper Pot)” for $11.7 million, the highest price paid in an auction of postwar and contemporary art Tuesday night at Christie’s New York.
The painting was consigned by dealer Irving Blum, who staged Warhol’s first solo exhibition in 1962, at L.A.’s Ferus Gallery. It is part of an extensive series but only one of six depicting soup cans with torn labels. Broad’s new acquisition will join his personal collection, from which he sold a Picasso last week for $10 million.
In the Tuesday night auction, Christie’s capitalized on the hot contemporary art market, racking up $143.1 million in sales, including $24.4 million for 25 sculptures by the late Donald Judd, consigned by the foundation that manages his estate. A Warhol painting of Green Stamps brought $5.1 million, five times its pre-sale estimated price; his 1964 painting of flowers was sold for $3.9 million.
Prices include Christie’s commission: 20% of the first $200,000 of the hammer price and 12% of the rest.
Estimates do not reflect commissions.
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-- Suzanne Muchnic
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