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Warhol's Jackson Portrait Dropped From NY Auction

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Jul 13, 2009 11:18 am US/Eastern

Warhol's Jackson Portrait Dropped From NY Auction

East Hampton Gallery Postpones Auction Of Portrait To Gain More Prospective Buyers

EAST HAMPTON, N.Y. (CBS) ― A New York art gallery has temporarily removed an Andy Warhol portrait of Michael Jackson from the auction block.

The Vered Gallery in East Hampton says enormous interest prompted the decision. The auction was to close Sunday.

The 30-by-26-inch painting shows a smiling Jackson in a red jacket from his "Thriller" days. Pre-sale estimates ranged anywhere from $1 million to $10 million.

There's renewed interest in all things Jackson since his death. His albums are back at the top of the charts.

Gallery co-owner Janet Lehr says in a statement she wants to offer the 1984 work to "the greatest number of prospective purchasers." She did not immediately return inquiries for comment Monday.

The portrait is reportedly owned by a New York collector.

Jackson died on June 25 after suffering from cardiac arrest in his Los Angeles mansion. He was preparing for a 50-show residency in London that was said to be his final concerts ever.
 

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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