Georgia O'Keeffe painting sells for a record $44.4M

NEW YORK, Nov. 20 (UPI) -- A painting of a white flower by American artist Georgia O'Keeffe sold for $44.4 million at auction Thursday, nearly four times the most ever paid for a painting by a woman.

"Jimson Weed/White Flower No. 1," painted in 1932, was initially estimated to sell for, at most, $15 million, Sotheby's auction house said in a news release.

The sale shattered that estimate, as well as the record for the most ever paid for an artwork by a woman. The previous record was held by the $11.9 million sale of an untitled painting by Joan Mitchell at Christie's auction house in May 2001.

The O'Keeffe oil-on-canvas painting is typical of her work during the 1920s and 30s -- close-up representations of natural forms, often flowers and bones.

"Jimson Weed/White Flower No. 1" was sold through Sotheby's New York by the Georgia O'Keeffe Museum in Santa Fe, N.M., which is using the proceeds to benefit its acquisitions fund.

Seven bidders competed for the painting, which was won by Lisa Dennison.

The sale was part of an auction of American art, which netted $75.4 million, about $30 million more than estimated, Sotheby's said. Two other O'Keeffe paintings were sold at the auction, including "On the Old Santa Fe Road" for $5.1 million and "Untitled (Skunk Cabbage)" for $941,000.

Rob Kret, director of the Georgia O'Keeffe Museum said he was excited by the "record-breaking results" of the sales.

"It is wonderful to see Georgia O'Keeffe's iconic artworks receive the recognition and valuation they deserve," Kret said. "This sale will provide funding to strengthen and refine our collection, allowing us to represent the full breadth of Georgia O'Keeffe's artistic accomplishments.