Ryan O'Neal Wins Legal Battle Over Warhol Painting TheWrap
Actor Ryan O’Neal has won his legal battle over a portrait by Andy Warhol of O'Neal's late companion, actress Farrah Fawcett, TheWrap.com reports.
The University of Texas sued the actor, claiming it had the rights to the painting after Fawcett bequeathed her art collection to the university, the story notes.
Although a similar portrait by Warhol is part of the school’s holdings, the university maintained that the actress meant for both to go to the school. The university learned of the second painting when it showed up in a reality TV show starring O’Neal, as the portrait hangs in his bedroom.
A jury ruled in favor of O’Neal, who argued that Warhol, a friend, had given him the portrait and that Fawcett and others acknowledged it belonged to him, the story says.
The painting is worth as much as $1 million, according to O’Neal’s attorney, although an appraiser hired by the university pegged its value at $12 million.