200 one dollar bills => $43.7 million?

Andy Warhol's "200 One Dollar Bills" (1962), 80¼ x 92¼ inch

It was the sale of the season. When a seminal Warhol — one of the artist’s first silk-screen paintings — came on the block at Sotheby’s auction of contemporary art on Wednesday night, the auctioneer, Tobias Meyer, opened bidding at $6 million and was stunned when a bidder instantly doubled it.

Bids were taken over the phone for Andy Warhol's "200 One Dollar Bills" as it was auctioned off at Sotheby's Contemporary Art Evening Sale on Wednesday.

The price rose at breakneck speed as five collectors vied for the classic image, “200 One Dollar Bills.” It ended up selling for $43.7 million (including fees to Sotheby’s), more than three times its high estimate of $12 million. The buyer, whom Sotheby’s refused to identify, bid by telephone through Bruno Vinciguerra, the company’s chief operating officer. Sotheby’s would also not identify the seller, although people familiar with the collection said it was Pauline Karpidas, a London-based collector.