Munch’s work sold for $120m

Norwegian expressionist Edvard Munch's The Scream has become the most expensive art work sold at auction as it went in New York for $119.9m (£74m), BBC News reported.

The 1895 pastel was bought at Sotheby's in New York City. Bidding began at some $50m, and lasted for just 12 minutes.
 

The work is one of four in a series by the Norwegian expressionist artist and was the only one still owned privately.
 

Proceeds of Wednesday's sale are to go towards the foundation of a new museum, hotel and art centre in Norway.


Seven bidders were competing for the work, but the contest eventually boiled down to two phone-bidders, one of whom prevailed. The crowd applauded after the sale.


The sale price includes the buyer's premium.


The previous record for an artwork sold at auction was for Picasso's Nude, Green Leaves, and Bust, which sold for $106.5m in 2010.