Warhol portrait of Elvis could fetch $50m

An Andy Warhol portrait of Elvis Presley depicted as a cowboy is coming to a New York auction and could get anything from $30 million to $50 million. "Double Elvis (Ferus Type)" will be offered at Sotheby's on May 9. It was exhibited at the Ferus Gallery in Los Angeles in 1963, the same year it was executed. Sotheby's says it's the first "Double Elvis" to appear on the market since 1995. The silver silkscreen painting shows Elvis armed and shooting from the hip. A second, shadow Elvis figure is in the background. Sotheby's identified the seller only as a private collector. Warhol produced a series of 22 images of Elvis. Nine are in museum collections.