A celebrated painting by British artist David Hockney has been sold at Christie's in NY for just over $90m (£70m) - an auction record for a work by a living artist.
It sold following a 10-minute battle between two rival bidders via telephone, after the price passed $70m.
It emphatically surpassed the previous record for a work by a living artist, which was held by American Jeff Koons for one of his Balloon Dog sculptures which sold for £45.6 million in 2013.
Avoid fake news! Subscribe to the Standard SMS service and receive factual, verified breaking news as it happens.
Portrait of an Artist (Pool with Two Figures), features a man in a peach blazer standing on a sunlit ledge and peering over the rim of a pool at a submerged swimmer.
He began a new work that cast his former lover and favourite muse, California artist Peter Schlesinger, as a young man looking down at a swimming figure.More news: 'Doctor Who' Airing New Year's Day Special - Jodie Whittaker
More news: Carmelo Anthony's reps exploring where he may go next
More news: VAR set to be used in Premier League next season
The initial work was painted and painted over, with Hockney returning to the concept a year afterwards in 1972.
Mr Lewis, a currency trader who owns football team Tottenham Hotspur, declined to accept a guarantee despite offers of about US$80 million, according to people familiar with the matter.
His career took off after he moved to Los Angeles in the 60s.
Thursday's sale at Christie's flagship post-war and contemporary evening art sale caps the end of the biannual marquee art auctions held every year in November.
Portrait of an Artist (Pool with Two Figures) sold for $US90.3 million ($124.35 million) at Christie's auction house in NY on Thursday.
Would you like to get published on Standard Media websites?