Andy Warhol's famous portrait of DAME Elizabeth Taylor was sold for over $12.6 million (GBP6.6 million) at a high-profile contemporary art auction last night (10MAY05).

The work of art - entitled LIZ - proved to be the most popular lot at the SOTHEBY's sale in New York, but it was eventually won by wealthy London-based jeweller LAURENCE GRAFF.

The auction took in a staggering $68 million (GBP36 million) in total.

11/05/2005 21:22