Picasso and Warhol Shine as Freeman’s Prints & Multiples Auction Achieves $1.66 Million

Spirited bidding propelled Freeman’s marquee Prints & Multiples auction to an impressive $1,656,512 on November 4, as collectors competed for works spanning centuries of artistic innovation. The sale achieved 92% sell-through by lot and 123% by value, drawing buyers from 13 countries, with 20% of all buyers new to Freeman’s. Leading the auction was Pablo Picasso’s Le Déjeuner sur l’herbe, d’après Manet I, which realized $140,800, while Andy Warhol emerged as another standout, accounting for six of the sale’s ten highest-selling lots.

A particular highlight was Property from the Estate of Ray Retzlaff, Sold to Benefit Charitable Organizations, which achieved a remarkable 100% sell-through rate by lot and 128% by value. The collection realized $785,216, led by Warhol’s Mick Jagger, which sold for $96,000.

An artist, philanthropist, and avid traveler, Ray Retzlaff (1936–2026) assembled an eclectic collection reflecting his wide-ranging artistic interests and curiosity about the world. A longtime resident of the Milwaukee area, Retzlaff was equally devoted to charitable causes, making the sale of his collection to benefit charitable organizations a fitting continuation of his philanthropic legacy.

“It was particularly exciting to see such strong enthusiasm for Warhol, whose work continues to attract collectors across generations,” said Matthew Stavro, Senior Specialist, Prints & Multiples at Freeman’s. “The depth of bidding throughout the auction was equally encouraging, reflecting an appreciation for both iconic images and exceptional examples of printmaking. The response to the Retzlaff collection was especially rewarding, knowing that the proceeds will benefit charitable organizations and carry forward his philanthropic legacy.”

Auction Highlights

Lot 107 | Pablo Picasso, Le Déjeuner sur l'herbe, d'après Manet I, 1962
Sold for $140,800

Leading the auction was Picasso’s vibrant 1962 linocut, which reimagines Édouard Manet’s celebrated composition through bold color, flattened perspective, and expressive distortions of the human figure. The work belongs to Picasso’s extensive exploration of Manet’s masterpiece, a subject he revisited across paintings, drawings, sculpture, and prints. The linocut realized $140,800, approaching its pre-sale high estimate of $150,000.

Lot 29 | Andy Warhol, Mick Jagger, 1975
Sold for $96,000
Property from the Estate of Ray Retzlaff, sold to Benefit Charitable Organizations.

The auction’s second-highest-selling lot was Warhol’s Mick Jagger, which realized $96,000. Created in 1975, the striking screenprint belongs to a portfolio of ten portraits based on Warhol’s own photographs of the Rolling Stones frontman. Reflecting the artist’s fascination with celebrity and popular culture, the work is signed by both Warhol and Jagger and numbered 98 from an edition of 250.

Lot 30 | Andy Warhol, Love (complete portfolio of three), 1983
Sold for $64,000

Warhol’s Love, a complete portfolio of three screenprints from 1983, more than doubled its $30,000 low estimate to achieve $64,000. Published by Form K.K. in Tokyo and printed by Rupert Jasen Smith in New York, the portfolio comprises three individually signed and numbered works from an edition of 100.

Lot 39 | Alex Katz, Springtime, 2026
Sold for $44,800

Contemporary works also attracted strong interest, including Alex Katz’s Springtime, a monumental, brightly colored screenprint measuring six feet across. Created in 2026 and published by Lococo Fine Art, the work is from an edition of just 50 and realized $44,800, near the top of its $35,000–45,000 estimate.

Lot 33 | Andy Warhol, Chicken 'N Dumplings Soup (from Campbell's Soup II), 1969
Sold for $48,000 
Lot 32 | Andy Warhol, Black Bean Soup (from Campbell's Soup I), 1968
Sold for $41,600

Warhol’s iconic Campbell’s soup cans continued to resonate with collectors, with two examples exceeding their low estimates. Chicken ’N Dumplings Soup, from the artist’s 1969 Campbell’s Soup II series, realized $48,000 against a $25,000–35,000 estimate, while Black Bean Soup, from the 1968 Campbell’s Soup I series, brought $41,600 against a $30,000–50,000 estimate. Among Warhol’s most recognizable subjects, the soup cans transformed an everyday consumer product into an enduring symbol of Pop Art.

Additional Highlights

• Lot 31 | Andy Warhol, After the Party, 1979
  Property from the Estate of Ray Retzlaff, sold to Benefit Charitable Organizations
  Sold for $38,400
• Lot 14 | Ellsworth Kelly, 18 Colors (Cincinnati), 1979-82
  Sold for $35,200
• Lot 34 | Andy Warhol, Old Fashioned Vegetable (from Campbell Soup II), 1969
  Sold for $32,000
  Property from the Estate of Ray Retzlaff, sold to Benefit Charitable Organizations
• Lot 93 | After Marc Chagall, by Charles Sorlier, La Flûte Enchantée, 1967
  Sold for $32,000
• Lot 41 | Tom Wesselmann, Still Life with Liz (from Portfolio 90), 1993
  Sold for $28,800
  Property from the Collection of Jack and Joan Stein, River Hills, Wisconsin
• Lot 110 | Pablo Picasso, Nature morte à la bouteille, 1962
  Sold for $28,800
  Property from the Estate of Ray Retzlaff, sold to Benefit Charitable Organizations
• Lot 6 | Helen Frankenthaler, Southern Exposure, 2005
  Sold for $25,600
  Property from the Estate of Ray Retzlaff, sold to Benefit Charitable Organizations

About Freeman’s

Freeman’s is a premier American auction house offering services in multiple categories including fine art, jewelry, design, books and manuscripts, furniture, decorative arts, antiquities, couture, and Asian works of art. With 15 regional locations nationwide, the firm provides auctions, appraisals, private sales, and art advisory services, connecting clients to the global art market. Freeman’s strives to bring art, history, and design to life by connecting people with extraordinary objects through exceptional service and expertise.