Warhol Foundation in NY to sell off collection

[September 06, 2012]  NEW YORK (AP) -- The Andy Warhol Foundation for the Visual Arts in New York is selling its collection of the artist's works through Christie's auction house to raise money for its endowment.

The foundation and the auction house announced the agreement on Wednesday.

Christie's will hold a series of auctions, private sales and online events over the coming years. Christie's CEO Steven Murphy says the sales will bring Warhol's work to people "who never before imagined" they could own any.

The foundation says the money raised from the sales for its endowment will allow it to expand support of the visual arts, fulfilling Warhol's purpose in establishing it. The foundation says it also will make donations to museums.

The collection includes items ranging from prints to photographs, some of which have not been seen by the public.

[Associated Press]

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