The iconic painting of Marilyn Monroe, created by Andy Warhol in 1964 shortly after the actress' death, has sold for $195m at auction.

The Shot Sage Blue Marilyn is one of a series of portraits that were created by Andy Warhol following the actress' death in 1962.The painting was based on a promotional photo of the actress, which was taken for the 1953 film Niagara. The title of the work refers to an incident in which a woman shot a stack of the Marilyn portraits in Warhol's studio with a pistol; however, the work in question was not part of this assemble.

The silk-screen portrait was sold for $195 million to an unknown buyer at Christie's auction house in New York in less than four minutes.This is the largest amount ever paid for an American work of Art.The sale broke two previous records. One for the the most expensive artwork sold in the 20th century, which was set by Pablo Picasso's 1955 painting Les Femmes d�Alger (Version O) that sold for $179.4m.

The second for the most expensive American artwork sold at auction, which was previously held by a painting created by Jean Michel Basquiat that sold for $110.5m. George Frei, the chairman of the board of the Thomas and Doris Amman Foundation, who previously owned the portrait stated that Monroe "bears witness to her undiminished visual power in the new millennium.

"Marilyn the woman is gone; the terrible circumstances of her life and death are forgotten."All that remains is the enigmatic smile that links her to another mysterious smile of a distinguished lady, the Mona Lisa.

"The sale marks the beginning of the art world returning to normal after two years of the pandemic. Philip Hoffman, the founder of the Fine Art Group, commented that: "There's been a huge amount held back fro two years, and there's a huge amount of pent-up demand from new clients."Everyone was waiting for the right moment, and the right moment has come."The person who purchased the Marilyn Portrait will be able to pick a charity of their choice to donate 20% of the proceeds from the sale of the painting.