At an auction in New York on Monday, one of the famous portraits of Marilyn Monroe by American artist Andy Warhol was sold for 195 million US dollars. While the record-breaking piece has an intrinsic American connection, the art was actually sold by a collection in Canton Zurich, with all the funds raised set to be donated to charity.

Warhol masterpiece held in Swiss art collection

The 1964 piece, entitled Shot Sage Blue Marilyn, shows the famous Hollywood actor in front of a turquoise-blue background with yellow hair, red lips and turquoise eye shadow. The series of portraits are considered to be one of the defining images of the pop art movement and of Warhol himself.

The piece was sold at Christie’s in New York on Monday night, fetching 195 million dollars. It is now the most expensive work of art from the 20th century to ever be sold at auction.

All profits from Marilyn Monroe portrait go to charity

The picture itself is from the Thomas and Doris Ammann Foundation in Zurich, which confirmed that profits from the sale will be donated. Ammann, a famous Swiss art collector, acquired the painting in the 1980s for an undisclosed fee before passing away in 1993.

After Amman's sister died in 2011, and the rest of the family bore no children, the art collection in Zürichberg was ordered to sell off most of its valuable pieces at auction. The collection, which includes several dozen 20th-century masterpieces, is now being sold at Christie's in New York, with all proceeds going to a foundation that will donate funds to children's charities around the world.