Warhol Foundation to sell off collection

FILE-In this Aug. 24, 2012, photo, new limited edition Campbell's tomato soup cans with art and sayings by artist Andy Warhol are displayed at Campbell Soup Company in Camden, N.J. Campbell Soup Co. announced Tuesday, Sept. 4, 2012, that net income rose 27 percent in its fiscal fourth quarter. The results beat analysts' expectations and the food maker gave fiscal 2013 revenue guidance above Wall Street's view. (AP Photo/Mel Evans)

September 5, 2012 7:22:00 PM PDT
The Andy Warhol Foundation for the Visual Arts in New York will be selling its collection of the artist's works exclusively through Christie's auction house to raise money for its endowment.

The foundation and the auction house announced the agreement on Wednesday.

The foundation said the money raised for its endowment from the sales would allow it to expand support of the visual arts, fulfilling Warhol's purpose in establishing it.

The agreement will mean Christie's will hold a series of sales over the coming years, including auctions, private sales and online events.

The foundation said it would also made donations to museums.

The collection includes items ranging from prints to photographs, some of which have been seen by the public.