Andy Warhol’s Coca-Cola (3) Painting Could Fetch $60 Million

Andy Warhol’s Coca-Cola 3

Andy Warhol’s black and white oversized “Coca-Cola (3)” painting could fetch as much as $60 million at the upcoming Christie’s auction in New York City. The old-fashioned Coca-Cola bottle, the size of a man was hand-painted in 1962 by Warhol.

One of his most well-known and iconic works, painting is currently owned by Newark, NJ-based Mugrabi family. They reportedly bought the painting in 1995 from Si Newhouse. The family claims ownership to the largest collection of Warhol’s art in the world – close to 800. Most are stored in a warehouse, of all places in Newark, NJ!

In 2010 at a Sotheby’s auction another one of Warhol’s Coke bottle paintings sold for $35.4 million to art collecting hedge-fund manager Steve Cohen.

Coke bottles are a favorite subject of Warhol’s. His other favored brands and celebrities used for art projects include Campbell’s soup cans, Mushroom clouds, Iran’s Shah, Elizabeth Taylor, Bridget Bardot, Elvis Presley and Muhammad Ali. He also famously coined the much-used phrase “15 minutes of fame.”

This is what Warhol said about Coca-cola “What’s great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest. You can be watching TV and see Coca-Cola, and you know that the President drinks Coca-Cola, Liz Taylor drinks Coca-Cola, and just think, you can drink Coca-Cola, too. A coke is a coke and no amount of money can get you a better Coke than the one the bum on the corner is drinking. All the Cokes are the same and all the cokes are good. Liz Taylor knows it, the President knows it, the bum knows it, and you know it.”

The painting will go on sale on November 12th at Christie’s Post-War and Contemporary Art Auction.

Source: Bloomberg

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