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O'Keeffe painting sold for $44.4 million sets record

The Georgia O'Keeffe painting "Jimson Weed/White Flower No. 1" sold for $44.4 million at auction Thursday, setting a record for a piece by a female artist.

The 1932 painting, which hung in the White House from 2002 to 2008, shattered the previous record set by an untitled Joan Mitchell painting that went for $11.9 million. "Jimson Weed/White Flower No. 1" sold for $1 million in 1994, and was expected to fetch $10 to $15 million this time around. Sotheby's said the painting was sold by the Georgia O'Keeffe Museum in Santa Fe, with the proceeds going to its acquisitions fund.