The Scream sells for record $120m

New York - One of the art world's most recognisable images - Edvard Munch's The Scream - sold for a record $119 922 500 (R921m) at auction in New York City.

The 1895 artwork - a modern symbol of human anxiety - was sold at Sotheby's on Wednesday evening. The price includes the buyer's premium.

The image of a man holding his head and screaming under a streaked, blood-red sky is one of four versions by the Norwegian expressionist painter. The auctioned piece at Sotheby's is the only one left in private hands.

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

Proceeds from Wednesday's sale will go toward the establishment of a new museum, art centre and hotel in Norway.

The image has become part of pop culture, "used by everyone from Warhol to Hollywood to cartoons to teacups and T-shirts," said Michael Frahm of the London-based art advisory service firm Frahm Ltd.

"Together with the Mona Lisa, it's the most famous and recognised image in art history," he added.

Sotheby's said its pastel-on-board version of The Scream is the most colourful and vibrant of the four and the only version whose frame was hand-painted by the artist to include his poem, detailing the work's inspiration.

In the poem, Munch described himself "shivering with anxiety" and said he felt "the great scream in nature."

The director of the National Museum in Oslo, Audun Eckhoff, says Norwegian authorities approved the Munch sale since the other versions of the composition are in Norwegian museums. One version is owned by the National Museum and two others by the Munch Museum, also in Oslo.

Sotheby's said a total of eight works have sold for $80m or more at auction.

Only two other works besides Picasso's Nude, Green Leaves, and Bust have sold for more than $100m at auction.

Those are Picasso's Boy With a Pipe (The Young Apprentice) for $104.1m in 2004 and Alberto Giacometti's Walking Man I for $104.3m in 2010.