This marks a high point for the city’s high-value art market, surpassing the European record set by Alberto Giacometti’s “Walking Man I” in 2010, which sold for $104.3m (£82.5m).

After a 10-minute bidding war between three Asian participants, the artwork was purchased by Hong Kong-based art adviser Patti Wong, who was representing a Hong Kong collector. The Klimt painting was part of an unnamed family collection since 1994.