The 1964 silk-screen of US movie star Marilyn Monroe, from a publicity still taken during filming of "Niagara," is set against an orange background.

"Orange Marilyn" had been valued at between $4 and $6m - the previous record for a Warhol was set in 1989, when "Shot Red Marilyn 1964," sold for $4m at Christie's in New York.

"A wise buy"

Andy Warhol's 'Orange Marilyn'

A spokesman for the Sotheby's said the auction house was not surprised by the sum.

"This is a very wise buy for this price," noted Tobias Meyer, a contemporary art specialist for Sotheby's.

"Warhol's painting is an icon of the century. This is the equivalent of a De Kooning, a Jasper Johns or an important Picasso," Mr Meyer said.

Warhol, who died in 1987 of a heart attack, is already the third most expensive contemporary artist, but still far behind De Kooning or Johns, who along with the Impressionists have broken the $20 million mark.