Warhol's "Lemon Marilyn" Could Fetch $20M at Auction

Christie's to gavel painting bought in 1962 for $250

An Andy Warhol portrait of Marilyn Monroe purchased for $250 in 1962 may fetch as much as $20 million when Christie's put it under the gavel in May, according to Reuters. It's the kind of appreciation in value rivaled only by a piece of Southern California real estate these days.

One of 13 paintings Warhol made of the late star after her suicide in 1962, "Lemon Marilyn" shows Monroe's famous platinum blond locks in lemon yellow. Another from this series, "Orange Marilyn," sold for $16.3 million at auction last year.

Reuters reports that the painting was purchased from Eleanor Ward's Stable Gallery in New York, where Warhol held a one-man exhibition that included eight paintings in the series. If "Lemon Marilyn" hits its mark at auction, it will realize an appreciation of 60K times its original purchase price. Even amortized over 45 years, that's some hela ROI!

(Photo as seen on Reuters from a Christie's release)