How long have they been waiting? Warhol’s Elizabeth Taylor portrait to be auctioned

In a statement today that sounds as if they couldn’t wait for her to die, auctioneers Phillips de Pury revealed that a portrait of Elizabeth Taylor by Andy Warhol will go under the hammer in New York on May 12. “Liz #5” was painted in 1963 and is expected to fetch as much as $30 million.

“Liz #5 is a pristine gem,” said Michael McGinnis, head of contemporary art at Phillips de Pury. “It is Warhol at his very best with a perfect screen, glowing colors, and impeccable provenance. She is classic yet every bit as cutting edge as she was when Warhol painted her nearly 50 years ago.”

To make them sound less money-grabbing they added that it is “a dazzling tribute to Elizabeth Taylor,” who died yesterday.

Touching.