In the Bottom of My Garden — Andy Warhol

Andy Warhol: In the Bottom of My Garden

Series Performance & Market Position

Andy Warhol commands an unassailable position at the apex of the contemporary art market. The Shot Sage Blue Marilyn achieved $195,040,000 at Christie's in May 2022, establishing the highest price ever recorded for a 20th-century artwork at auction. This benchmark transaction fundamentally reset collector expectations for Warhol's most significant works. More recent auction activity confirms sustained institutional demand: Mao F.S. II.96 and II.97 each realised $4,648,000 at Christie's in May 2025, while Flowers commanded $4,076,000 and $3,832,000 at Sotheby's that same month. A Self-Portrait brought $18,144,000 at Sotheby's in November 2023.

Guy Hepner has facilitated 478 Warhol transactions totalling over $51 million across 292 collectors—experience that positions us to speak with authority on every segment of the Warhol market, including pre-Pop works that remain dramatically undervalued relative to the artist's later production.

The In the Bottom of My Garden series has demonstrated consistent auction performance in the accessible collecting range. Complete sets have achieved $40,000 at auction in October 2018, with additional transactions recording £22,500 in September 2019. Individual sheets and cover works have traded at comparable levels, establishing clear market benchmarks for acquisition. For collectors seeking foundational Warhol holdings without seven-figure commitments, this series represents one of the most compelling entry points currently available.

Technical & Historical Context

Created in 1956, In the Bottom of My Garden predates Warhol's Pop explosion by half a decade. These works emerged during his commercially successful years as a Manhattan illustrator, when he maintained lucrative relationships with Glamour, Vogue, and Harper's Bazaar. The series comprises offset colour lithographs heightened with watercolour, each measuring approximately 8 5/8 x 11 inches—an intimate scale that reflects the artist's hand-finished approach during this transitional period.

The subject matter draws from whimsical fairy-tale imagery, depicting fantastical creatures and garden scenes that reveal Warhol's facility for decorative illustration before he abandoned conventional beauty for commercial iconography. The watercolour heightening on each sheet introduces subtle variations, ensuring that no two impressions are identical despite originating from the same lithographic matrix.

These works occupy a critical position in Warhol scholarship as documents of artistic evolution. They demonstrate the technical sophistication and commercial instincts that would later manifest in his screen-printed celebrity portraits, while preserving an unguarded romanticism he subsequently suppressed.

Individual Works & Collector Preferences

The series encompasses multiple works catalogued in the Feldman-Schellmann reference, including F.S. IV91A, F.S. IV92A, F.S. IV94A, F.S. IV97A, F.S. IV99A, F.S. IV100A, and F.S. IV105A. Each offset colour lithograph heightened with watercolour maintains the consistent 8 5/8 x 11 inch format, though individual sheets exhibit distinct compositional approaches and colour harmonies.

Based on our transaction history, we observe that collectors typically pursue these works through two strategies. Some focus on acquiring complete sets, treating the portfolio as a unified statement and maximising historical documentation value. Others select individual sheets based on compositional strength or condition, building holdings incrementally as exceptional examples surface.

The cover work carries particular desirability among collectors who value presentation completeness—portfolios retaining original covers in strong condition command premium consideration. From our experience handling pre-Pop Warhol material, we find that sophisticated collectors increasingly recognise the 1950s works as essential context for understanding the conceptual framework underlying his subsequent market dominance. These aren't merely early experiments; they're evidence of an artist who understood commercial appeal long before Campbell's Soup entered his vocabulary.

Authentication & Condition Factors

Authentication of In the Bottom of My Garden works requires verification against the Feldman-Schellmann catalogue raisonné, which remains the definitive reference for Warhol's prints. Each work should correspond to documented catalogue numbers, and provenance tracing back to original distribution strengthens authentication confidence.

Condition assessment for these works requires particular attention to the hand-applied watercolour heightening, which distinguishes each impression. The offset lithographic base should display clean registration without significant ink loss or abrasion. Paper quality matters considerably—these sheets are now approaching seventy years of age, and storage history directly impacts preservation. Foxing, toning, and handling creases affect market value, though moderate age-related characteristics are generally acceptable given the works' vintage.

Professional collectors should request condition reports documenting any restoration, mat burn, or light exposure. Works retaining original portfolio housing demonstrate superior provenance continuity. The Authentication Board of the Andy Warhol Foundation, though no longer accepting new submissions, previously authenticated period works—documentation of prior board review adds meaningful verification value.

Investment Analysis & Acquisition Strategy

The In the Bottom of My Garden series occupies a distinctive niche within Warhol's market structure. While his Pop-era prints and paintings generate eight-figure results at major auctions, the pre-Pop works remain accessible to collectors operating with more modest acquisition budgets. Auction results clustering around $40,000 for complete sets position these works well below the artist's iconic imagery while maintaining direct connection to his artistic legacy.

From our dealer perspective, we see increasing scholarly attention directed toward Warhol's 1950s production, suggesting potential for appreciation as institutional exhibitions and publications reassess this formative period. The works function as entry-level Warhol holdings for new collectors while offering established collectors the opportunity to deepen their understanding of the artist's development.

For 2026 acquisitions, we advise focusing on examples with strong provenance documentation, minimal condition issues, and ideally complete portfolio presentation. The limited supply of these early works—combined with the vast global demand for any authentic Warhol material—creates favourable long-term holding conditions. Collectors who secure strong examples now position themselves advantageously as the broader market continues recognising the 1950s works as integral rather than incidental to Warhol's artistic achievement.

Acquire In the Bottom of My Garden

Guy Hepner maintains current availability on select works from this series. For acquisition enquiries, condition reports, or portfolio consultation, contact our New York team directly.