A self-portrait by Andy Warhol has sold for a record stg£22 (€25) million at Sotheby’s in New York.

That’s three times the expected amount.

Last week at Christie’s, a Pablo Picasso work set a world record – after going for stg£71.5 (€83.8) million.

Alexander Rotter is Head of Contemporary Art at Sotheby’s, and says the recession is over for the artworld.

“This has been the best sale since May ’08 – which has been quite a while in market terms” he said.

“I feel the market is back now for contemporary art, for impressionist art – becasue we had a similar great result last week in the impressionist sale” he added.