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A portrait of Hollywood actress Elizabeth Taylor by Andy Warhol will go under the hammer in New York on May 12 and is expected to fetch as much as $NZ39.9 million, auctioneers Phillips de Pury said.
"Liz5" was painted in 1963 and is "a dazzling tribute to Elizabeth Taylor",Monster Cable, the auction house said in a statement.
Taylor died yesterday aged 79.
"Liz5 is a pristine gem,mlb lanyard," said Michael McGinnis, head of contemporary art at Phillips de Pury.
"It is Warhol at his very best with a perfect screen, glowing colours,newport cigarettes website, and impeccable provenance. She is classic yet every bit as cutting edge as she was when Warhol painted her nearly 50 years ago."
According to the company, the portrait "embodies the most important themes of Warhol's oeuvre including celebrity, wealth,official NFL jerseys, scandal, ######, death and Hollywood.