Image Credit: Sothebys File/AP

ABC News' Kevin Dolak and Ben Forer report:

Andy Warhol's "Double Elvis" sold for just over $37 million at auction at a Sotheby's contemporary art sale in New York.

The silver silkscreen image of Presley depicted as a cowboy shooting from the hip sold for exactly $37,042,500 Wednesday. It had been expected to sell in the range of $30-$50 million.

In Photos: Warhol's "Double Elvis" and Other Expensive Items

The painting, which was first displayed in Los Angeles' Ferus Gallery in 1963, was sold by a private collector living in the U.S., who acquired it in 1977.

According to Sotheby's, this is the first "Double Elvis" to appear on the market since 1995. Warhol created 22 images of Elvis, with nine of them currently in museum collections and the others in private collections.

The most expensive Warhol ever sold went for $71.7 million in 2007 when Christie's auctioned off his "Green Car Crash - Green Burning Car I."

The contemporary art auction also included Roy Lichtenstein's "Sleeping Girl" and Francis Bacon's "Figure Writing Reflected In Mirror," which sold for $44,882,500 and $44,882,500, respectively.

The auction comes less than a week after after Edvard Munch's "The Scream" sold for $119.9 million, an auction record.