Andy Warhol Painting of Michael Jackson Sells for Over $1 million

Casey Blackwell
8/20/2009

At an auction this week, a 1984 Warhol painting of Michael Jackson was sold for more than three times the price it fetched prior to Jackson's death.

Michael Jackson's untimely death has caused a spike in memorabilia sales, including artwork.

An Andy Warhol portrait of Jackson that was commissioned by Time magazine, which sold for $287,500 in May, was auctioned off for over $1 million on Tuesday, Forbes reports.

According to MTV.com, the buyer may have gotten a good deal since speculation suggests that the painting could have gone for as much as $10 million.

The auction took place at the Vered Gallery in New York and was supposed to close in July, but heavy interest in the piece following Jackson's June 25 death caused the gallery to extend the auction period. Janet Lehr, co-owner of the gallery, told the Los Angeles Times that several dozen bids were placed on the portrait.

The painting, which was completed by Warhol in 1984, is 30 inches by 26 inches and features Jackson wearing the well-known jacket from his "Thriller" video.

The gallery will not release the name of the buyer, but the painting it set for delivery in the next few days.