NEW YORK.- Sotheby's is once again honored to offer Property from the Collection of Gianni Versace, the late design genius whose name remains one of the most influential in the world of fashion and design. Following Sotheby's highly successful sale in 2001 of Mr. Versace's art and furnishings from his Miami home, Casa Casuarina, this sale will present collectors with a unique insight into his New York lifestyle and brilliant taste. He filled his magnificent Upper East Side, New York townhouse with Contemporary paintings juxtaposed by neoclassical European furniture. The impressive collection of beautiful Italian glass, some of which Mr. Versace designed himself, and 19th century paintings are further complemented by suites of contemporary upholstered furniture, many in Versace signature prints.

"Gianni Versace's home in New York is a sanctuary of sophistication," commented Elaine Whitmire, Senior Vice President and specialist in charge of the sale. "Located on one of the most beautiful blocks, just steps from Central Park, the interior of the house is beautifully designed with an unparalleled attention to detail, all the while very emblematic of Mr. Versace's personal style. Where the Miami house was filled with bold colors and patterns, New York is very architectural and appropriately reflective of the City."

The Contemporary works in Mr. Versace's collection will be offered at Sotheby's in New York in May and London in June. Tobias Meyer, Sotheby's Worldwide Head of Contemporary Art, noted, "This Collection reflects Mr. Versace's wide ranging taste and impeccable eye, and many of the works were commissioned directly from the artists. Outstanding later examples from champions of the Pop movement, such as Roy Lichtenstein, are juxtaposed with masterpieces from the most visible artists of the 1980's, including Jean-Michel Basquiat and the collaborative genius of Basquiat and Warhol, as well as Francesco Clemente. This presents Mr. Versace's group of works as a mini-retrospective of the greatest artistic talents of this most dynamic of decades."

Chief among the highlights is Roy Lichtenstein's Blue Nude, an oil on canvas from 1995 (est. $2.5/3.5 million). Here, Lichtenstein returns to his celebrated comic book imagery of the 1960s with a perfect depiction of the female form shaded with Ben-Day dots, while at the same time incorporating iconic aspects of earlier works, in this case an oval mirror within the interior scene.

Another magnificent work by Lichtenstein is Still Life with Envelope from 1982 (est. $600/800,000). This classic composition of lemons, a potted plant and an envelope is presented to the viewer just slightly off center and is framed on one side with a baroque style molding. Also by the artist is Ritual Mask, a stainless steel and enamel sculpture from 1992 (est. $300/400,000). Measuring 51 ¼ in. high, a likeness of this sculpture is represented in numerous paintings by Lichtenstein from the 1990s. Two later works, among the artist's last paintings, were commissioned by Mr. Versace and are entitled Still Life with Diana and Still Life with Ajax. These works are emblematic of Mr. Versace's style and the intricate detail includes elements recognizable in Mr. Versace's own designs. Each is estimated at $400/600,000.

Mr. Versace was captivated by the work of Jean-Michel Basquiat, and his collection includes several important, large-scale works, among them Untitled from 1982 (est. $1.2/1.8 milllion). Also included is Basquiat's Taxi from 1986-86 (est. $900,000/1.2 million). After an initial collaboration among Andy Warhol, Jean-Michel Basquiat and Francesco Clemente, Warhol and Basquiat continued to work together and Mr. Versace assembled perhaps the most significant collection of collaborative works between the two artists in private hands. Included in the sale is Amoco, a large scale canvas (116 x 240 inches) estimated to sell for $900,000/1.2 million, and GE, also from 1986 and estimated at $400/600,000.

The Collection will also feature Impressionist and Modern works at Sotheby's in May including drawings by Henri Matisse, Amedeo Modigliani and Edgar Degas, watercolors by Marc Chagall and Raoul Dufy, sculpture by Giorgio de Chirico and paintings by Fernand Léger.

Among the 19th Century paintings in the Collection, which will be offered in New York in April, are several important works by William Adolphe Bouguereau, including L'Amour blessé (Wounded Eros), circa 1857. This early masterpiece shows the artist's love for classical subjects and is estimated to sell for $200/300,000. Also featured are works by Sir Lawrence Alma-Tadema, including Le soldat de Marathon (est. $150/200,000), and a lovely selection of decorative Italian and French school paintings that graced the walls of Mr. Versace's home and were the perfect complement to his vast collection of Continental furnishings.