Tom Ford Prepares to Auction Off Warhol’s ‘Self Portrait’

0322warford.jpg

While designer Tom Ford‘s directorial debut, A Single Man, didn’t wind up earning its star Colin Firth an Oscar a couple of weeks back, it’s certainly impressive that Ford managed to get an academy nod his first time out the gate. But we suppose it’s still a little tough not to win, and as such, Ford has decided to do what most of us do when we’re feeling a bit blue: auction off an Andy Warhol painting and pocket a few million dollars. The designer is putting up the artist’s 1986 painting, “Self Portrait,” one in a collection of four, which will go on the block in mid-May and is expected to fetch around $10 to $15 million, though it could go absurdly higher. Ford, a long-time art collector, and no fool about the market, knows this all too well:

Ford’s decision to sell his Warhol comes one season after Sotheby’s achieved strong results with the artist. Warhol’s 1962 “200 One Dollar Bills,” estimated to sell for up to $12 million, fetched $43.8 million last November. A 1965 red, green and purple “Self Portrait” fetched $6.1 million, more than four times the $1.5 million high estimate.