Jade Jagger sells Andy Warhol painting for $580,000

Sir Mick Jagger's daughter Jade has raised $580,000 by auctioning off a painting given to her as a child by Andy Warhol.

The legendary artist gifted the piece to Jade in 1981, when she was only 10 years old. Warhol used to babysit for her at his New York City studio when she was young and handed her the painting following her parent's divorce.

Jade, now 42, decided to part ways with the canvas, which features a dedication to her and the date '81, and it was estimated to fetch up to $400,000 when it went up for auction at Sotheby's auction house in London on Thursday (13Feb14).

The painting - a red, pink and gold dollar sign made in acrylic and silk-screen ink - exceeded expectations by reaching $580,000 .