A s the autumn round of art auctions gets underway in New York, none will be so closely studied for clues to the direction of the market as Christie's carefully curated Faces in Art - Iconic Portraiture on November 13.
The art market, like the credit and debt markets, is in a state of certifiable anxiety. Dealers and collectors have ridden high on the boom of the last few years, everyone is now in the game, loose words are dangerous, and nobody wants be the one to spoil the party.
Yet, in an odd turn of events, a key player in the November auctions drama could turn out to be the fumbling hero of so many British romantic comedies, Hugh Grant.
Among the lots at Christie's - which include work from Basquiat, Rubens, Lucian Freud, Cezanne and Modigliani - is one of Andy Warhol's most iconic images, Liz (Colored Liz),
|
 |
|
 |
 |
|
One Warhol print could decide the future of the art market, says morgan davies |
| |
a silkscreen print of Elizabeth Taylor from 1963 that the auction house estimates will fetch between $25m and $35m.
Grant purchased the 40" x 40" picture for $3.5m at auction in 2001 through his London dealer Gerald Fagginato. According to Christie's, "the seller of the Liz is taking advantage of the strength of today's market and turning his attention to work by younger artists." In other words, Grant is cashing in.
And why not? Eighteen months ago, a Liz from the same series sold at Sotheby's for $12.2m to the London jeweller Lawrence Graff. In May this year, Green Car Crash (Green Burning Car I) from the same period fetched $71.7m; a small Marilyn went for $28m.
Warhol, it is well known, adored Liz Taylor and considered her one of his three muses (Marilyn Monroe and Jackie Kennedy being the other 
|
Warhol the icon
Bums on seats
Bruce Bernard, multi-million-dollar man
