How Much Is Turquoise Marilyn Worth?

Conclusion: Turquoise Marilyn is valued at $180–240 million. This reflects its position at the absolute apex of Warhol’s market—the five 40 x 40 inch 1964 Marilyns—combined with the most relevant public benchmark: Shot Sage Blue Marilyn’s $195.04 million price at Christie’s in May 2022, a record for Warhol and for a 20th‑century artwork at auction [1].

Market comparables: Among Warhol’s oeuvre, only the 40-inch 1964 Marilyns have publicly demonstrated durable, near–quarter‑billion-dollar auction liquidity. The 2022 result provides a like‑for‑like anchor for Turquoise Marilyn. Additional top-tier 1960s Warhols corroborate the nine-figure environment for masterpieces, including White Disaster (White Car Crash 19 Times) at $85.35 million in November 2022, and large 1964 Flowers at $35.5 million in May 2024—evidence of sustained depth for canonical 1960s Pop even as the broader market has been more selective [4][5].

Work-specific factors: Turquoise Marilyn is widely described as the only 40-inch Marilyn not physically pierced in the 1964 Factory shooting incident, a distinction that can command a premium given condition sensitivity and the series’ mythology [3]. Its reported private sale in May 2007 for approximately $80 million (seller Stefan Edlis; buyer Steven A. Cohen; broker Larry Gagosian) remains a pivotal benchmark. Adjusted for inflation and for the series’ re‑rating post‑2022, that price aligns with a present-day nine‑figure valuation well within the stated range [2].

Valuation rationale and sensitivity: The $180–240 million range brackets parity with the 2022 Shot Sage Blue result while allowing for: (i) colorway preferences and individual condition; (ii) the potential premium attached to Turquoise’s un‑shot status; and (iii) current market selectivity at the ultra‑high end. Under marquee evening‑sale conditions—global marketing, an irrevocable bid/third‑party guarantee, and at least two motivated buyers—outcomes near or modestly above the midpoint are reasonable. In a low‑visibility private transaction, pricing could gravitate toward the lower bound; conversely, a competitive auction or private bidding war could exceed the top end.

Key dependencies: Final pricing hinges on a recent, independent condition report (front/back imaging, screen registration, paint layer stability, and any conservation), confirmation of unencumbered title and provenance, and sale mechanics (venue, timing, marketing, and guarantee structure). With those elements in place, Turquoise Marilyn should trade at or above parity with the best-in-class 40-inch Marilyn benchmark set in 2022 [1][3].