Rare portrait of Princess Diana sells for more than 10 times the expected price

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Rare portrait of Princess Diana sells for more than 10 times the expected price
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The rare piece was created as a head study for one of Diana's most famous portraits.

. The oil piece, titled"Diana, Princess of Wales," was painted in 1994 by the late American artist Nelson Shanks. Sotheby's said it was expected to fetch up to $20,000 but it sold for $201,600.

The rare painting is a head study of Diana that was created during the start of her full-length portrait. Artists sometimes use head studies to perfect the emotions and perspectives of their subject's face. While the picture shows the princess with the same"downcast eyes" and a"thoughtful expression" included in her full length-portrait, her green halter dress was later changed to a white blouse for the final, larger project, according to Sotheby's.

The full portrait, which hung in Kensington Palace before being moved to her original home in Althorp in Northamptonshire, reflects "the emotional toll of Diana's public life in the mid-1990s, but also her inner resilience," Sotheby's said. Diana, Shanks and his wife Leona became close friends during her time sitting for her portrait.

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