Warhol Jackson painting sells for over $1m in NY

Michael Jackson's estate reportedly made $100m in the seven weeks since his death, and the singer's records went gold.

Now this effect has spread into the art world, with the sale of a silk-screened IMAGE_of Jackson by the legendary pop artist Andy Warhol.

The painting was sold for just over $1m at the Vered Gallery in East Hampton, NY, on August 18 according to Forbes.

The same piece sold for just $287,000 at Sotheby's on May 13, prior to the singer's untimely death.

August's sale demonstrated how memorabilia can appreciate in the wake of an artist's death - and the painting is likely to gain further value in coming decades due to the importance of both Jackson and Warhol.

Sally King-Nero, executive editor at the Andy Warhol Foundation for the Visual Arts in New York, told Forbes that Warhol kept sloppy records of his paintings - and more Jackson prints may exist.

"We're trying to locate them," she said.

Jackson's death could also boost prices of porcelain sculptures of the star made by the contemporary artist Jeff Koons.

The last Koons sculpture of Jackson to sell at auction, Michael Jackson with Bubbles, brought $5.6 million at Sotheby's in New York in May, 2001.

The same gold and white sculpture could sell for $25m today, suggested New York art dealer Alberto Mugrabi.

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