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An iconic Andy Warhol silk-screen portrait of movie star Marilyn Monroe sold for $195 million at Christie’s on Monday, establishing a new record for any American artwork at auction, The Wall Street Journal reported.

At least four bidders vied for the work, with American Armenian art dealer Larry Gagosian winning it after a roughly four-minute-long bidding battle in Christie’s Rockefeller Center salesroom in Manhattan.

Proceeds from the sale will be used to fund a children's charity.

Warhol’s 3-foot square silk-screen from 1964, called “Shot Sage Blue Marilyn,” depicts a promotional photo from the actress’s 1953 film, “Niagara.” The artist transformed the actress into a pop-art icon by giving her a bubblegum-pink face, ruby lips and blue eye shadow set against a sage-blue background. 

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