NEW YORK, N.Y.- Phillips de Pury & Company announce the sale of a rare, iconic portrait of the legendary actress Elizabeth Taylor, painted by Andy Warhol in 1963. The stunning painting will be offered for sale in the Contemporary Art Part I auction on May 12th and is estimated at $20,000,000 / $30,000,000. “Liz #5 is a pristine gem. It is Warhol at his very best with a perfect screen, glowing colors, and impeccable provenance. She is classic yet every bit as cutting edge as she was when Warhol painted her nearly 50 years ago. Liz #5 embodies everything that a major collector of 20th and 21st century art desires and we are thrilled to offer this rare and exciting opportunity to the market.” Michael McGinnis, Senior Director and Worldwide Head, Contemporary Art. Liz #5 was painted at the height of the actresses’ fame which coincided with the most significant and creative period of Warhol’s career. The glamorous por