Grant sells Taylor painting for $23.7m

Hugh Grant has sold an iconic painting of actress Elizabeth Taylor by Andy Warhol for $23.7 million (£11.85 million).

The actor bought the piece for $4m (£2m) six years ago and sold it during an auction at Christie's in New York yesterday.

The image, which was one of 13 that artist Warhol made of the actress in 1963, was estimated at $35m (£17.5m) before the sale, but Grant still made nearly $20m (£10m) profit from it.

An anonymous bidder bought the painting during the 'Post War and Contemporary Art Sale' at the Rockefeller Centre. The top selling item was Mark Rothko's untitled red, blue and orange piece which fetched $34.2m (£12.1m).