That's One Way To Save For Retirement
40 years ago, Cathy Naso was a 19 year old teenager who worked as a receptionist. She happened to be a receptionist at Andy Warhol's workshop. Well, one day Andy gave her a self portrait he made and he inscribed to her personally. Cathy took the painting home, displayed it for a few months and then put it away for 40 years. Now 59, she decided that this would be the right time to sell the painting.
Last night it went on the auction block with some other Andy Warhol paintings. Cathy's painting was expected to sell for $1M. Instead it sold for $6.1M.
"I think I am dreaming. Andy has made me famous for 15 minutes and I've come to realize that 15 minutes of fame is more than enough."
Preach it Cathy and while you are it go take a megaphone and and walk some red carpets and tell it to some others who could use a reminder.
It probably helped her cause a great deal to have some serious Warhol bidders there last night. His dollar bill painting which had been bought in 1986 for about $400K was expected to sell for $10-$20M and it ended up selling for about $44M.
