Rare Leonardo masterpiece sells for record $450M

Leonardo da Vinci's 500-year-old oil on panel, titled "Salvator Mundi," is now the most expensive painting ever sold.
3:00 | 11/16/17

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Transcript for Rare Leonardo masterpiece sells for record $450M
fortunate. That work of art making history. A rare oil painting from the original renaissance man himself da Vinci selling for a record $450 million at an auction. T.J. Holmes, you know he's got all the details for us. Robin, let me tell you what we're talking about called the male Mona Lisa and consider it the holy grail of old master paintings, rare da Vinci only fewer than 20 da vincis are known to be out there expected to go around $100 million. But four bidders last night had a room full of people gasping as that number hit a historical high. Welcome at 150 million on the left. Reporter: It began at the bargain basement price of $100 million. And then things got crazy. 160 is bid back to Alex at 160 million. Reporter: Four buyers on the phone and one inside Christie a auction house fought it out for the once in a lifetime opportunity to own Leonardo da Vinci's "Salvator mundi." 200 million is bid. At 200 million. At 200 million. 200 million. Please, 200 million is bid. 245 million. At $266 million. 268 million. You heard it, ladies and gentlemen. At $280 million. Are we all done? At 350 million and looking for another bid, please, Francois. At 350. Reporter: The painting which depicts Jesus is referred to as the last da Vinci because it's believed to be the only painting by the artist still in private hands. 400. 400 million. 400 million is the bid. Francois, it is with Alex rotter as 400 million. Leonardo's "Salvator mundi" selling and the piece is sold. Reporter: 19 minutes after the opening gavel, the painting sold for $450 million. The highest price ever for a piece of art. The other record was 179 million for a Picasso. This painting sold for 10 grand at auction just in 2005. They didn't know what they had. Just 10 grand. The reaction of the crowd there even, woo! All the cell phones, capturing the moment in history. It was history? Any idea who purchased this in somebody that got more cash than us laying around. But it was -- I wasn't there in it was sold at auction for 127 million just a few years ago. So there was no way anybody thought it was going to hit this number. So it's in the private hand, probably a billionaire somewhere, not a museum probably. Likely. But when it comes back up for auction I'd be curious if it can sell for more. No, this guy bought at the top. Some questions about authenticity we were talking about. Let's go back to beginer.

This transcript has been automatically generated and may not be 100% accurate.

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