In the 1970s, the price of a commissioned portrait by Warhol was $25,000, two for $40,000. The value of Andy Warhol's work has been on an endless upward trajectory since his death in 1987. In 2014, his works accumulated $569 million at auction, which accounted for more than a sixth of the global art market. However, there have been some dips. According to art dealer Dominique Lévy: "The Warhol trade moves something like a seesaw being pulled uphill: it rises and falls, but each new high and low is above the last one." She attributes this to the consistent influx of new collectors intrigued by Warhol. "At different moments, you've had different groups of collectors entering the Warhol market, and that resulted in peaks in demand, then satisfaction and a slow down," before the process repeats another demographic or the next generation.
In the 1970s, the price of a commissioned portrait by Warhol was $25,000, two for $40,000. The value of Andy Warhol's work has been on an endless upward trajectory since his death in 1987. In 2014, his works accumulated $569 million at auction, which accounted for more than a sixth of the global art market. However, there have been some dips. According to art dealer Dominique Lévy: "The Warhol trade moves something like a seesaw being pulled uphill: it rises and falls, but each new high and low is above the last one." She attributes this to the consistent influx of new collectors intrigued by Warhol. "At different moments, you've had different groups of collectors entering the Warhol market, and that resulted in peaks in demand, then satisfaction and a slow down," before the process repeats another demographic or the next generation.