Warhol's "Liz" Sells for $12.6 Million at Sotheby's

Carol Vogel at the New York Times reports:

"Lawrence Graff, the London jeweler, successfully outbid five other contenders for "Liz," one of Andy Warhol's series of 13 paintings of Ms. Taylor, this one against a deep-red background. The 1963 painting was being sold by Irving Blum, the Los Angeles art dealer who had owned it for 40 years."