Piet Mondrian’s 1929 oil painting Composition No III, with Red, Blue, Yellow and Black has sold for $50.6 million at a New York auction.
The sum is an auction record for the Dutch artist’s work.
The sale price, which includes a 12% buyer’s premium, was more than twice its estimate of $15million to $25 million.
Piet Mondrian’s previous auction record was $27.6 million.
The auction capped two weeks of sales that have brought in record sums of money at both Christie’s and Sotheby’s auction houses.
Christie’s alone took more than $1.3 billion during the course of its two days sales this week.