Following the death of this unforgettable Hollywood legend, the Phillips de Pury auction house has put on sale the iconic Elizabeth Taylor’s portrait by one of the most famous modern artists Andy Warhol.

The work “Liz #5” was sold for $27 million in May at the Phillips’ Contemporary Art Auction.

"Liz #5 is a pristine gem. It is Warhol at his very best with a perfect screen, glowing colors, and impeccable provenance. She is classic yet every bit as cutting edge as she was when Warhol painted her nearly 50 years ago. Liz #5 embodies everything that a major collector of 20th and 21st century art desires" – commented Michael McGinnis, Senior Director and Worldwide Head, Contemporary Art.

The painting “Liz #5” was created by the pop-art classic in 1963 at the height of Taylor’s fame. At the same time, it was an important and very fruitful period in Andy Warhol’s career as well.  The artist made 13 portraits of the violet-eyed diva in total. The embodiment of old-Hollywood style and glamour, Taylor was one of Warhol’s celebrity inspirations alongside Marilyn Monroe and Jackie Kennedy.

“Elizabeth Taylor, ohhhh. She’s so glamorous” – he said once.

The portrait went under hammer just few months after “The Men in Her Life” (1962) – another Warhol painting dedicated to Taylor. This one was sold for $63.4 million – the second highest price ever for a Warhol at the auction.

Three more Warhol paintings – “Flowers”, “Third Eye” and “Witch” were appreciated as $8.15 million, $7million, and $2.66 million respectively. “Third Eye” – a 1985 vibrantly coloured canvass painted by Warhol jointly with Jean Michel-Bisquiat reached a record price for a collaboration piece.