A work of art produced in a «factory» becomes the most expensive artwork from the 20th century to be sold at auction.

Andy Warhol's iconic «Shot Sage Blue Marilyn» portrait of Marilyn Monroe fetched $195 million at a Christie’s auction held Tuesday, with the proceeds going to a Swiss foundation benefitting children around the world.  

The work was the final item to come under the hammer at Christie's as part of the «Collection of Thomas and Doris Ammann Evening Sale», with the auction being held for the collection of the Amman's, the sibling co-founders of Thomas Ammann Fine Art in Zurich.

Benefitting Charity

The sales will benefit the Thomas and Doris Ammann Foundation, with all of the proceeds going to the newly established organization dedicated to improving the lives of children worldwide. The auction of the Ammann collection raised $318 million, which includes the Marilyn work.

The buyer will be invited to partner with the foundation to choose where 20 percent of the proceeds are allocated, subject to final approval by the Foundation.

A  second auction takes place today as the 21st Century Evening Sale and includes works from Jean-Michel Basquiat, a frequent collaborator with Warhol.

«The Ammann collection illustrates the importance of the relationships that Thomas and Doris had with the artists they collected. From Andy Warhol to Mary Heilmann and Ann Craven, many artists they championed achieved records» says Johanna Flaum, head of department, Post-War and Contemporary Art at Christie's.

Friendship with Warhol

According to Christie's, Warhol and Thomas Amman became friends to the extent that the artist let Amman use the second floor of his house in Manhattan in the early 1980s when he needed office space in New York. Warhol also entrusted Amman with the task of producing an extensive catalog of his works.

Warhol's work is the second most expensive work ever sold at auction, coming in behind Leonardo da Vinci's «Salvator Mundi» which sold for $450 million in 2017, according to Christie's. 

Not bad for a guy who used to run a «factory».