Warhol's Mao portrait expected to break records at Sotheby's Hong Kong

A 1973 oil on canvas by Andy Warhol from his Mao series is heading to auction at Sotheby's Hong Kong on April 2, with estimates of £12 million, potentially setting a new record. The work (127 x 106.6 cm) features red and yellow hues referencing the Chinese flag and has a provenance including Leo Castelli Gallery (New York), Bruno Bischofberger (Zurich), Gian Enzo Sperone (Turin), and Acquavella Fine Arts. It last sold at Sotheby's in 2014 for £7.6 million (€9 million), an 18-fold increase from its 2000 price of £421,000. The Mao series originated from Warhol's interest in Nixon's 1972 visit to China, as recounted by Bob Colacello in 'Holy Terror: Andy Warhol Up Close' (1990). Despite its market appeal, China censored the Mao works during Warhol's 2013 retrospective '15 Minutes Eternal' in Shanghai and Beijing, deeming them disrespectful. The current seller is likely a Chinese billionaire.