Warhol Elvis May Fetch $50M Cowboy painting coming up for auction By Rob Quinn, Newser Staff Posted Mar 16, 2012 12:39 AM CDT 3 comments Comments “Double Elvis [Ferus Type]” is estimated to sell for between $30 million to $50 million at Sotheby’s in New York in May. (AP Photo/Sotheby's) (Newser) – Andy Warhol's 1963 "Double Elvis" painting is poised to fetch a whopping $25 million per Elvis at auction this spring. Sotheby's has set an estimate of up to $50 million for the work, which shows Elvis dressed as a cowboy and shooting from the hip, AP reports. Warhol produced a series of 22 Elvis images. One of them—"Eight Elvises"—set the record for a Warhol work when it was sold to an Italian collector for $100 million in 2009.