Pop Goes the Artwork: Warhol Portrait of Elizabeth Taylor Heads to Auction

Just two days after screen legend Elizabeth Taylor died in Los Angeles, a 1963 portrait of the icon by artist Andy Warhol is being set up for the auction block, according to the AP. The silkscreen piece, "Liz #5," belongs (for now) to Steven Cohen, a hedge-fund manager. It was one in a series done in the 1960s by Warhol depicting pop culture icons, such as Marilyn Monroe and Jacqueline Kennedy.

Cohen may have made his millions in the financial world, but, according to HedgeFund.net, he has quite the reputation in the art world as a major player: "Over the last ten years, Cohen has spent about $300 million to amass a collection that includes works by Edouard Manet, Claude Monet and Jackson Pollock, as well as Warhol." He "purchased ["Liz #5"] for an undisclosed sum from the estate of major New York art dealer Illeana Sonnabend, who died in 2007."

Speaking of millions, you'll need an estimated 20 of 'em to buy "Liz #5." The auction is scheduled for May 12th at at Phillips de Pury in New York.