03/28/2008 02:45 am ET | Updated May 25, 2011

Price Tag For Warhol's "Liz" Seen As Litmus Test For Art Market

Reluctant actor, master of self-deprecation, tousle-haired English fop. Tonight a new description must be added to the list of Hugh Grant's qualities: modern art collector who has struck the jackpot.

An Andy Warhol work owned by the Four Weddings and a Funeral star will go on sale in New York as a centrepiece of Christie's auction of post-war and contemporary art. The portrait of Elizabeth Taylor, called Liz, from 1963, is expected to fetch up to $35m (£17m), 10 times the sum that Grant paid for it at a Sotheby's auction in 2001. Or to look at it another way, a profit of about $5m for every year he has owned the painting. Not bad work if you can get it.

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