«IT'S CALLED GOSSIP AND OF COURSE IT'S AN OBSESSION OF MINE»

Andy Warhol's estate is cashing out.

A quarter-century after the Pop artist died, his art foundation is about to upend the Warhol market by auctioning off the rest of his estate—including more than 20,000 works it expects to sell for a total of more than $100 million.

The Andy Warhol Foundation for the Visual Arts said Wednesday that it has enlisted Christie's to help sell off its remaining inventory of silk-screen paintings, drawings, prints, collages, photographs and archival materials because it no longer wants to broker occasional sales of these objects on its own.

Chairman Michael Straus said the foundation aims to use the proceeds to increase its $225 million endowment and expand the scope of its art-related grant programs. "We're converting art into money," Mr. Straus said.

-The Wall Street Journal

Sept 5 2012