Warhol portrait of Elvis could fetch $50M in NYC

Associated Press
This undated image provided by Sotheby's shows Andy Warhol's portrait of Elvis Presley depicted as a cowboy. The painting, with a silver background, “Double Elvis [Ferus Type]” is estimated to sell for between $30 million to $50 million at Sotheby’s in New York on May 9, 2012. (AP Photo/Sotheby's)

NEW YORK (AP) — An Andy Warhol portrait of Elvis Presley depicted as a cowboy is being auctioned in New York City and is expected to sell for between $30 million and $50 million.

"Double Elvis (Ferus Type)" will be offered at Sotheby's on May 9.

It was exhibited at the Ferus Gallery in Los Angeles in 1963, the year it was executed.

The auction house says it's the first "Double Elvis" to appear on the market since 1995.

The silver silkscreen painting shows the rock and roll heartthrob armed and shooting from the hip. A shadow Elvis figure is in the background.

Sotheby's on Thursday identified the seller only as a private collector.

Warhol produced a series of 22 images of Elvis. Nine are in museum collections.

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Online: http://www.sothebys.com