A painting of Christ by Leonardo da Vinci has sold for $450m (£341m), smashing previous records for art sold at auction or privately.

The sale breaks the previous record for a work of art by $240m.

Picasso's "Women of Algiers (Version O)” held the record for fetching the most at auction until today’s sale. That painting went for $179.4m in May 2015.

The 26-inch-tall Leonardo painting dates from around 1500 and shows Christ dressed in Renaissance-style robes, his right hand raised in blessing as his left hand holds a crystal sphere.

Once owned by King Charles I, it disappeared from view until 1900, when it resurfaced and was acquired by a British collector. At that time it was attributed to a Leonardo disciple, rather than to the master himself.

The painting was sold again in 1958 and then acquired in 2005, badly damaged and partly painted-over, by a consortium of art dealers who paid less than $10,000. The art dealers restored the painting and documented its authenticity as a work by Leonardo.

The painting was sold on Wednesday evening by Russian billionaire Dmitry Rybolovlev, who bought it in 2013 for $127.5m.