World Record on artnet Auctions: Andy Warhol Flowers Painting Sold for Over US$1.3 Million

NEW YORK, BERLIN and PARIS, July 20, 2011 /PRNewswire/ -- On Wednesday, July 20, 2011, artnet Auctions achieved a world record for the sale of an Andy Warhol 1978 painting entitled Flowers, which sold for US$1,322,500 (Premium). The buyer was a private American collector. The painting, in brilliant tones of blue and green and measuring 22 x 22 inches, is one of only four Flowers paintings from this year recorded by The Andy Warhol Foundation archive, and this is a record price for a 1978 Flowers painting. The work has been in a private German collection for many years. Hans Neuendorf, chief executive officer of artnet, commented, "This sale confirms what we have maintained for a long time at artnet—that art buyers are willing to buy high-end artworks online."

(Photo:  http://photos.prnewswire.com/prnh/20110720/NY38945 )

artnet is the leading online resource for the international art market. artnet provides comprehensive information about the art market via the signature artnet Price Database, artnet Market Reports indices and charts, artnet Galleries of  leading art galleries worldwide, and the online artnet Magazine. With 24/7 worldwide bidding, artnet Auctions is the world's first and only online auction platform for Modern and Contemporary fine art, prints, photographs, and design. artnet is host to approximately 2 million visitors each month.

For information, please contact Robin Roche at +1-212-497-9700 ext. 140 or [email protected].

View the Sold Lot: Andy Warhol Flowers.

Visit artnet Auctions: http://www.artnet.com/auctions/.

About artnet:

With 24/7 worldwide bidding, artnet Auctions is the world's first and only online auction platform to buy and sell Modern and Contemporary fine art, prints, photographs, and design. artnet has been online since 1995 and is host to approximately 2 million visitors each month. Through its Price Database of all auction sales results and artnet Galleries of all leading art galleries worldwide, artnet is the leading online resource for the international art market.

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SOURCE artnet