MIAMI, Dec. 09, 2025 (GLOBE NEWSWIRE) — A&S Investment Holding Chairman Uğur Akkuş has completed one of the most significant transactions of this year’s Miami Art Basel with the purchase of Andy Warhol’s 1977 “Muhammad Ali” portrait for USD 18 million. The acquisition was recorded as the highest-priced sale of the fair and is regarded as a defining moment for Turkish participation in the global art investment market.
The transaction underscores the growing role of Turkish private capital in the acquisition of premium cultural assets, a segment increasingly viewed as a resilient and strategically valuable component of diversified investment portfolios. Warhol’s upper-tier works continue to demonstrate strong long-term performance, international liquidity and enduring demand among institutional and private collectors. Akkuş noted that the acquisition aligns with his broader investment approach, which includes the integration of globally recognized cultural assets capable of maintaining value across market cycles.
Market commentators observe that this purchase advances Turkey’s visibility in the international art economy at a time when cross-border investments in alternative asset classes are expanding. The move also reflects heightened interest from emerging-market investors in acquiring high-profile cultural works traditionally held by Western and Middle Eastern buyers.
A&S Investment Holding continues to expand its activities across international markets, with strategic investments spanning real estate, finance, energy, construction, technology, media, retail and global trade. The group’s participation in major international events such as Art Basel reinforces its broader strategy of engaging with high-value global asset categories and strengthening its presence within international investment ecosystems.
For further information, A&S Investment Holding will provide updates through its corporate communications office.
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