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NEW YORK - One of Edvard Munch's most famous pieces of art made made a loud impression at auction Wednesday night.

"The Scream" sold for $119,922,500 at Sotheby's. The price includes the buyer's premium.

The work was expected to fetch $80 million.

The proceeds from the sale will go toward the establishment of a new museum, art center and hotel in Norway.

There are four versions of the painting by Munch. The piece auctioned by Sotheby's is the only one still in private hands.

Picasso's "Nude, Green Leaves, and Bust" held the previous record for an artwork sold at an auction. It was sold by Christie's for $106.5 million in 2010.