Additional Coverage:
- ‘Pawn Stars’ boss Rick Harrison pays a lot more than what the guest expected for his paintings (marketrealist.com)
“Pawn Stars” Rick Harrison Snags Warhol Collection
Las Vegas pawn shop owner and star of the reality show “Pawn Stars,” Rick Harrison, recently added four original Andy Warhol paintings to his collection. The seller, identified as Paul, brought the artwork into the shop explaining that they had been tucked away in a closet for years.
Inspired by a recent Warhol sale of $36 million, Paul decided to see what his pieces might be worth. He explained to Harrison that his father, a historian, had acquired the paintings approximately 25 years prior.
The artwork, according to Paul, was given to someone who worked at Warhol’s “Factory,” the artist’s studio where he employed assistants to help produce his work. Warhol, known for signing pieces produced in the Factory, authenticated these particular paintings with his signature.
Harrison, though intrigued by the artwork, noted some water damage which could potentially impact their value. Paul’s initial asking price was $32,000.
Never one to take a seller’s word at face value, Harrison called in his expert, fine art appraiser Brett, to authenticate and assess the pieces. Brett confirmed their authenticity, believing them to be original Warhol creations from the 1950s, a period highly valued by collectors.
Despite the water damage, Brett estimated two of the paintings to be worth $15,000 each.
With expert opinion in hand, Harrison started negotiations with a low offer of $20,000, citing potential auction commission fees as high as 50%. Paul countered, reminding Harrison of Brett’s appraisal and suggesting he could get $30,000 for just two of the pieces. Harrison ultimately raised his offer to $27,000, a price Paul happily accepted, exceeding his expectations for the sale.