Fernand Leger's 1921 painting Trois Femmes a la Table Rouge auctioned in New York yesterday evening (May 7).
The painting, which was offered from pop performer Madonna's private collection, brought $7.2m - a 2.4% increase on the piece's $7m top estimate.
Proceeds from the sale are set to benefit the star's Ray of Light Foundation, which was was set up to support girls' educational projects in Pakistan, Afghanistan and other countries where female education is rare or nonexistent.
Before the sale, Madonna commented: "I want to trade something valuable for something invaluable - educating girls! Knowledge is power. Let's change the world."
Sign up for our free weekly newsletter.