The Warhol market has been dormant for some time. but even in a quiet market, rare things tend to bring out bidders. according to Sotheby’s catalogue notes, only three examples of this image have ever come to market. Though the low estimate was an attractive $800k, the work eventually attracted the Acquvella family’s interest. they bid hard for the work.
Colin Gleadell reveals in the Telegraph, who eon the work:
Art advisor, Rory Howard, spent close to $8 million on a cluster of works for a client including an early de Kooning drawing and a Warhol of The American Indian, each against very well informed competitors. “The market remains unshakable even under the most extreme circumstances,” he said. “The US election had no impact on the choices buyers made.”