The ‘Elizabeth II’ screenprint (1985) has been acquired by Showpiece.com and will enter into fractional ownership — a scheme which allows ordinary members of the public to buy shares for just £100.

The pop-art work was based on a photo by Peter Grugeon which was released in 1977 to mark the Queen’s Silver Jubilee.

Andy Warhol admitted he was in awe of his subject, declaring it his ambition to one day be “as famous as the Queen of England.”

Royal enthusiasts will be able to register their interest from today at Showpiece.com with the sale going live in July.

A secondary market where shareholders can sell their shares is expected to open later in the year after the general sale closes.

The work was part of a series of screenprints entitled ‘Reigning Queens’ which contained sixteen portraits of the four ruling queens at that time in the world: Queen Elizabeth II of the United Kingdom, Queen Beatrix of the Netherlands, Queen Ntombi Twala of Swaziland and Queen Margrethe II of Denmark. Each was produced on different colour backgrounds.

In 2012, the Queen herself bought four of the portraits for The Royal Collection Trust to mark her Diamond Jubilee.

The 100 x 80cm ‘Elizabeth II’ is printed on Lenox Museum Board and has been signed ‘HC 3/3 Andy Warhol’, meaning ‘Hors Commerce’ or do not sell. Prints marked HC only very rarely make their way onto the open market and are in high demand due to their scarcity. The portrait also carries Warhol’s unique stamp on the reverse.

Showpiece.com is dividing ownership into 3500 pieces — or shares — which people will be able to purchase for £100.

Owners can vote to accept or decline future bids and are then paid out on a pro-rata basis. Buyers will be limited to a 10% stake in the Andy Warhol print.