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'Thriller' Art: Warhol's Jackson Work Could Net $700,000

CNBC.com With Wires

Christie's auction house will offer up a portrait of Michael Jackson by Andy Warhol in New York on Nov. 10.

Art Auction Fever

The 30-by-26-inch portrait of Jackson is estimated to fetch $500,000 to $700,000. It's one of a small group of Warhol silk-screened images of Jackson created in 1984.

The painting depicts Jackson in a "Thriller"-era jacket, with red and yellow squiggles in his hair.

Public interest in the singer's life, legacy and music were reignited after his sudden death in June. Prior to his death, Jackson had planned both a series of concerts and even an auction of his personal belongings, reportedly in order to cover his mounting debts.

Deputy chairman Brett Gorvy says the seller of the painting is an anonymous private collector in New York who bought it from the Andy Warhol Foundation in the 1990s.

The image is part of 47 lots being auctioned, including two other Warhol paintings.

A New York art gallery sold a similar Warhol portrait of Jackson in August to an anonymous buyer. The gallery would not disclose the price, but said it was more than a million dollars.

—Wire services contributed to this story.