Frida Kahlo’s Self-portrait Sells For $38.4 Million; Breaking All Records.

In this self-portrait, Kahlo depicts her tumultuous marriage to the Mexican artist Diego Rivera before she died in 1954.

At Sotheby’s in New York, Frida Kahlo’s painting Diego y yo or Diego and I sold for a whopping $38.4 million. Kahlo painted this self-portrait before her death in 1954 and depicted her tumultuous marriage to Diego Rivera. During the Modern Evening Sale in New York, the painting, which was a star lot, had a presale estimate of more than $30 million, and the auction house secured a buyer willing to pay a minimum amount before it went up for sale.

Eduardo F Constantini, an Argentine real estate developer, bought this painting. In 2001, Constantini established the Latin American Art Museum of Buenos Aires. According to Sotheby’s, the painting is for his private collection and not the museum. It has been argued that this painting expresses Frida’s angst over Riviera’s affair with film star Maria Felix for which he almost divorced Kahlo.

A global icon of modern art, Frida Kahlo’s work is beloved around the world. Sotheby’s describes Diego y yo as exemplifying the painstakingly detailed rendering, complex iconography, and deeply personal narratives that define her mature work.”

Diego y yo was last auctioned in New York in 1990 when it sold for $1.43 million at Sotheby’s. Kahlo is one of the most famous and least prolific artists in the world. During her lifetime, she created only 140 paintings.