Marilyn Monroe’s iconic painting sold for a record-breaking $195 million.

After being auctioned for $195 million (£158.17 million), a classic painting of Marilyn Monroe by Andy Warhol has become the most expensive piece of 20th century art ever sold. It’s also the most money ever paid for an American work of art.

Shot Sage Blue Marilyn was painted by Warhol in 1964, and it was inspired by a famous image.

Christie’s noted in advance of the auction in New York that the painting is “one of the rarest and most sublime images in existence,” with a selling price “in the vicinity” of $200 million.

According to Bloomberg, the winning bidder was Larry Gagosian, a US art dealer who operates a chain of art galleries.

Iconic painting of Marilyn Monroe sold for record-breaking $195m

According to Christie’s, the entire sale earnings will go to the Thomas and Doris Ammann Foundation Zurich in Switzerland, which strives to build healthcare and education programs for children all over the world.

The auction ended with a sale price of $170 million, which increased to $195 million after taxes and fees were factored in.

The price also breaks the previous record for a work of art from the twentieth century, which was set in 2015 when a 1955 painting by Pablo Picasso titled Les Femmes d’Alger (Version O) sold for $179.4 million, including fees.

The previous record for a piece of American art was $110.5 million for a skull painting by Warhol’s riva, Jean-Michael Basquiat, made in 1982.

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