AP – PITTSBURGH’S WARHOL MUSEUM ART WORTH BILLION, EXPERTS SAY

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PITTSBURGH, PENN. (AP) — The value of the art in Pittsburgh’s Andy Warhol Museum is believed to have skyrocketed recently, crossing the $1 billion mark.

President of the New York-based Andy Warhol Foundation Joel Wachs estimates the current price tag at more than $1 billion. Warhol expert Richard Polsky agrees.

Recent sales are evidence of Warhol’s growing popularity. In 2002, a Warhol sold for $300,000. In the past two years, his art has fetched tens of millions of dollars. One piece banked more than $70 million.

Museum director Thomas Sokolowksi says the collection was appraised in 2001 at $125 million. He declines to say what he estimates the value of the collection to be today.