Andy Warhol's Double Elvis [Ferus Type] sold for $37.0m at Sotheby's Contemporary Art Evening Sale in New York on May 9, comfortably within estimate.
It was the first Double Elvis to appear on the market since 1995, when a version achieved $497,500 at Christie's.
That represents a 28.86% pa rise in value, a figure that will make art investors salivate.
The work was first publicly viewed in 1963 at Los Angeles' Ferus gallery - from where it takes its name, the same year Warhol produced the piece.
Sotheby's states that the artwork "epitomises the artist's obsessions with fame, stardom, and the public image".
Warhol created 22 Elvis works; nine are currently in museums. The works include single images, doubles, triples and pairs.
The most valuable of Warhol's Elvis pieces remains his Eight Elvises. It sold for a Warhol world record price of $100m in a private sale in October 2008.
Next up for Warhol collectors is his 1974 depiction of Brigitte Bardot. It will appear at Sotheby's in London on May 22, with a $6.4m estimate.
We have a black cashmere polo necked sweater, owned and worn by Warhol, currently available.
Its provenance is superb. Produced by Halston in the 1970s, there are several photographs of Warhol wearing the item.
Art buyers should also check out the online auction currently being held by our sister company, PFC Auctions.