Andy Warhol’s famous 1964 silkscreen portrait of Marilyn Monroe sold at auction for $195 million, setting a new record for a work by an American artist.
Shot Sage Blue Marilyn is one of a series of portraits Warhol made of the actress after her death in 1962 and has since become one of the most iconic works of pop art.
It is in the collection of Swiss art dealers Thomas and Doris Ammann and was sold by Christie’s at an auction in New York on Monday. Pre-sale estimates had reached as high as $200 million.
The painting sold for a hammer price of $170 million. Additional fees resulted in a final price of $195 million.
The sale broke the previous record for an American artwork at $110.5 million auction, set in 2017 for a 1982 painting by Jean-Michel Basquiat.
“Shot Sage Blue Marilyn is the absolute pinnacle of American pop,” said Alex Rotter, Christie’s chairman of 20th and 21st Century Art, in a statement announcing the auction. “The painting transcends the genre of portraiture and replaces the art and culture of the 20th century.”
The painting is based on a promotional photo of Monroe from the 1953 film Niagara screened with bright colors over her eyes, hair and lips.
Its title refers to an incident in which a woman shot a pistol at a stack of four Marilyn portraits in Warhol’s studio, although Shot Sage Blue Marilyn was not hit by a bullet.
Monroe was one of Hollywood’s most recognizable stars before she died of an overdose on August 4, 1962 at her home in Los Angeles.
Warhol died in 1987.