Andy Warhol Coke Bottle Painting Sells for $35 Million

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An Andy Warhol painting of an old-fashioned Coca-Cola bottle sold for $35.36 million at a Sotheby's auction of post-war art.

The sale of 54 works raised $222.4 million including commissions, Reuters reported. Ninety-one percent of the works found a buyer.

"In this new market, it was a huge success," said Tobias Meyer, auctioneer and Sotheby's worldwide head of contemporary art.

The demand for works of art has jumped this year, after slumping when the financial crisis hit in 2008.

Warhol's "Coca-Cole (4) (Large Coca-Cola)" , a black and white image on canvas, was expected to fetch no more than $25 million. Earlier in the week, a Warhol multi-image depiction of Elizabeth Taylor sold for $63.4 million at Phillips.

The high prices for Warhol works put him in the same league as artists such as Matisse and Picasso, Meyer said.
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