An iconic painting of Marilyn Monroe by Andy Warhol has been auctioned for $195 m (£158.17 m)—making it the most expensive piece of 20th-century art ever sold.
The painting, Shot Sage Blue Marilyn, was painted by Warhol in 1964, two years after Monroe’s death, using a famous photograph as inspiration. The amount is also the highest ever paid for an American work of art.
Christie’s auction in New York was widely seen as a symbol of the luxury art market’s health.
Ahead of the auction, Christie’s wrote that the painting is “one of the rarest and most transcendent images in existence,” with a selling price “in the region” of $200m.
The buyer is reported to be Larry Gagosian (USA), a prominent art dealer and owner of a global chain of galleries.
The auction ended with a sale price of $170m, which rose to $195m when taxes and fees were taken into account.
The previous record price for a piece of American artwork was $110.5 m for a skull painting created in 1982 by Warhol’s sometimes friend and sometimes competitor, Jean-Michel Basquiat.
The final price also smashes the previous record for a 20th-century work of art, set in 2015 when a 1955 painting by Pablo Picasso—Les Femmes d’Alger (Version O)—sold for $179.4m, including fees.
ALSO READ: ‘Lagbaja’-Inspired Painting of 19-Year-Old Nigerian Artist Makes History at Cyprus Museum