Human Interest Andy Warhol's 'Marilyn' Will Be Offered at Auction for an Estimated $200 Million — and It Could Break Records The 1964 piece by the late Andy Warhol is set to be auctioned off by Christie's in May By Jason Hahn Jason Hahn Jason Hahn is a former Human Interest and Sports Reporter for PEOPLE. He started at PEOPLE's Los Angeles Bureau as a writer and reporter in 2017 and interviewed the likes of Kobe Bryant, Arnold Schwarzenegger and Tom Brady. He has a B.A. in English from the University of California, Berkeley, and a Master's degree in Journalism from Columbia University. He previously worked for Complex Magazine in New York City. People Editorial Guidelines Published on March 22, 2022 04:59PM EDT Andy Warhol’s Shot Sage Blue Marilyn. Photo: Dia Dipasupil/Getty An iconic Andy Warhol portrait of Marilyn Monroe is estimated to fetch around $200 million when it is offered at auction later this year. The silkscreened piece, known as "Shot Sage Blue Marilyn," is set to be put up for auction by Christie's in May, the auction house announced in a press release on Tuesday. Christie's expects it to be the "most expensive 20th-century artwork to ever sell at auction," with an estimated value of around $200 million. "An unmatched example of 20th century art by the most important American artist, Shot Sage Blue Marilyn is one of the rarest and most transcendent images in existence," Christie's said of the 40-inch artwork, which was painted by Warhol in 1964, two years after Monroe's death. The painting is part of a set of four other portraits of the actress, known as "Shot Marilyns." Each features a different color for its background, and all four are commonly displayed together for digital recreations and replicas. Warhol, who died in 1987 in New York City, based the piece on a promotional photograph of Monroe from the 1953 film, Niagara, by Henry Hathaway. Monet Haystack Painting Sells for a Record $110.7 Million After Fierce Bidding War Brownie Harris/Corbis via Getty "The most significant 20th century painting to come to auction in a generation, Andy Warhol's Marilyn is the absolute pinnacle of American Pop and the promise of the American Dream encapsulating optimism, fragility, celebrity and iconography all at once," Alex Rotter, Christie's Chairman of 20th and 21st Century Art, said in a statement. Rotter said he believes the portrait can stand "alongside" other great works, including the "Mona Lisa." "The painting transcends the genre of portraiture in America, superseding 20th century art and culture," he explained. "Standing alongside Botticelli's Birth of Venus, Da Vinci's Mona Lisa and Picasso's Les Demoiselles d'Avignon, Warhol's Marilyn is categorically one of the greatest paintings of all time and a once in a generation opportunity to present this masterpiece publicly at auction." This Eco Artist Turns Litter Into Landscape Paintings: 'We Can Be Better, More Sustainable Humans' According to Christie's, funds generated from the auction will go toward the Thomas and Doris Ammann Foundation Zurich, an organization that improves "the lives of children the world over by establishing support systems centered on providing healthcare and educational programs." RELATED VIDEO: Woman Gifts Portrait of Grandfather After he Recovers from COVID-19 Monroe was one of the biggest stars of her time, having starred in Some Like It Hot and The Misfits. But at age 36, she was found dead next to a collection of empty pill bottles. While her death was ruled a "probable suicide" by the Los Angeles County Coroner's Office, her tragic ending still raises a slew of questions. Warhol died at age 58 after experiencing a heart attack in his sleep, the New York Times reported.