NEW YORK (Reuters) - Edvard Munch's painting "The Scream" sold for a record US$120mil at auction on Wednesday at Sotheby's, far exceeding pre-sales estimates of about US$80mil. The vibrant piece from 1895, the most famous art work in the world still remaining in private hands, went under the hammer at Sotheby's Impressionist and modern art auction, where clients and press packed the salesroom for the much-anticipated sale.
Bidding started at around US$50mil for the work, one of four versions by the Scandinavian painter being sold by Norwegian businessman Petter Olsen, and elapsed over about 15 minutes until an unnamed bidder by telephone gave the final offer of US$119,922,500, including commission.