Andy Warhol's Sixteen Jackies has just exceeded its $20m (£12.2m) target pricetag at an auction of contemporary art at Sotheby's in New York.

The 1964 print of former US first lady Jackie Kennedy sold for $20.24m (£12.4m), while Jeff Koons' sculpture of a pink panther hugging a topless woman went for $16.8m (£10.3m).

Total sales reached $128m (£78m) just above the $121m (£73.8m) low estimate.

The auction house admits the estimates were "possibly aggressive".

"We did listen to the market, so works sold, if not always at levels originally anticipated," said Tobias Meyer, Sotheby's worldwide head of contemporary art....