Warhol sells at auction - 16/02/2010

An Andy Warhol painting has sold at Christie's in London, in what was yet another successful sale for the auction house.

The Warhol dollar sign silkscreen was bought by diamond dealer Laurance Graff, who bought the artist's "200 One Dollar Bills" for $48.3 million in November, according to Bloomberg.

Mr Graff also purchased a painting by Yves Klein, helping the auction sell $64.1 million worth of contemporary art.

Graff, who has now spent a significant amount of money on art this month, is making an astute choice by investing in art, says one expert.

Amy Cappellazzo, Christie's international co-head deputy chairman of the Americas, told the news provider: "Art is a safe bet for cash now. It's performed well compared to other asset classes and is enjoyable to live with."

The sellers of both the Warhol and the Klein reportedly made handsome profits, with the latter selling for more than double its pre-sale estimate.