Andy Warhol, Campbell’s Soup I – Black Bean, 1968

Investment Thesis 📝

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Attractive Entry Point Below Fair Market Value
Acquired at ≈€65.2k, this hand-signed screenprint is priced approximately 20% below gallery listings of comparable works. Key points supporting valuation:

- Condition-adjusted CAGR from 2017 to 2025 stands at 23.9%, with peak results reaching €98.6k in past sales for the same print.
- At the most recent Christie’s auction (May 2025), the complete Campbell’s Soup I set (10 prints) fetched over €900,000 – proof of strong market demand. Our price of €69,500 per piece is far below that.
- The offered work is a 1968 signed edition (250), stamped and well-provenanced (New York & London private collections), offering confidence in authenticity and potential resale appeal.

This combination of favorable pricing, certified signature, and historical auction support provides a solid margin of safety for investors.

Pop Art Icon with Global Liquidity and Institutional Recognition
Campbell’s Soup I is one of Warhol’s most recognized and exhibited bodies of work, emblematic of his critique on mass consumerism and media. As one of the ten prints in the seminal 1968 series, Black Bean benefits from both global brand equity and transactional liquidity.

Highlights:
- Top auction results underscore strong demand, with Tomato Soup fetching $498k at Sotheby’s (2022), and complete portfolios from Campbell’s Soup I reaching up to $2.07 million at Christie’s (2023), confirming the series’ prestige
- Examples of Soup Cans are held in the collections of MoMA, Tate Modern, and The Broad, reinforcing their institutional credibility.
- Average sell-through rates of 85–95% at major auctions show consistent demand.
- As an editioned print with a hand signature and clear condition history, this piece is highly visible in both auction and private sales markets.
- Warhol’s print market alone accounts for 25–30% of his total auction turnover, and this work represents a liquid, mid-term investment with globally recognizable appeal.

Strong Returns with Proven Market Support
Modeled over a 36 month horizon, this investment combines low platform costs with a historically robust return curve:

Balanced Scenario (CAGR, 2017–2025):
→ €110.5k | CAGR: 20.4% p.a.

Ambitious Scenario (CAGR, 2017–2025 + discount):
→ €138.6k | CAGR: 29.9% p.a.

Even after fees and platform costs, the net return is estimated at 10.4p.a.
The Sharpe Ratio of 0.45 indicates a favorable risk-return profile for a short-term art investment. Notably, the model applies a conservatively high standard deviation, based on observed volatility from a Banksy artwork, to account for potential downside and enhance robustness.
Notably, this screenprint was acquired below average market price and significantly under key gallery comps, enhancing both exit flexibility and capital gain potential.

Exit Options at Maturity 🚪

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We will manage the exit strategy in collaboration with our expert on behalf of our investors, ensuring the best possible outcome based on market conditions at the time. Depending on the prevailing market situation, the painting will be sold to a private collector or offered as single lots at an auction for contemporary art. An auction is considered if the price has developed to the point where the minimum bid matches the market value and there is high demand for works by the artist. Both options are carefully considered, and we will choose the one that maximizes the return for our investors.

Why Invest in This Category? 🎨

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For centuries, art was collected for its cultural, emotional, intellectual, political, and economic value. Investing in a mid-career artist offers a mix of financial potential and personal satisfaction, making it an appealing option for both new and seasoned collectors.

Why Invest in This Asset? 💎

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The offered artwork is part of Warhol’s 1968 Campbell’s Soup I portfolio — a landmark in postwar art. Titled Campbell’s Soup I – Black Bean, this 88.9 x 58.7 cm silkscreen is hand-signed in ballpoint pen and numbered with a rubber stamp, printed on wove paper in an edition of 250. Unlike earlier canvases, these prints made Pop Art collectible, and today they are considered blue-chip entry points into Warhol’s oeuvre.

With strong provenance (Private Collections in New York and London), this piece is presented in excellent condition and is currently valued at £75,000, while offered here at just £55,000 — creating a 26% immediate upside. Its editioned nature ensures liquidity, but its signed status, rarity of the flavor, and museum presence provide a layer of prestige. Similar condition examples have sold for up to $290,000.

Warhol’s Soup Cans redefined contemporary art in the 1960s, bridging the gap between advertising and fine art. Black Bean represents one of the 10 original flavors from Portfolio I — the set that democratized art collecting through reproducibility, while simultaneously elevating everyday consumer products into enduring cultural relics. The portfolio consistently commands high demand, achieving up to 95% sell-through rates at auction, with full portfolios reaching $2 million+.

This print isn’t just visually striking — it’s part of a proven asset class with decades of historical appreciation and unmatched Pop Art symbolism.

Context in Time ⏳

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In an age of branding and mass production, Warhol’s work feels more relevant than ever. With major retrospectives and institutional holdings around the world, his market remains robust. As demand shifts toward authenticated, editioned blue-chip works, signed Soup Can prints stand at the intersection of cultural nostalgia and lasting financial value.

Conclusion 🎯

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This signed, well-preserved Warhol is offered below fair market — with compelling comparables and proven demand. Black Bean represents art history in serial form: museum-caliber, globally known, and perpetually traded. It’s one of Pop Art’s most powerful assets — and it’s now accessible.