The self-portrait is one of Kahlo's "psychologically charged" artworks, Sotheby's said, and was painted during a turbulent chapter in her life - the year her former lover was assassinated, and shortly after her divorce and remarriage.

Kahlo, who died in 1954, is widely regarded as one of the greatest painters in the past century and became known for her personal portraits.

Her work often conveyed her painful relationship with her body, disabled through polio in her childhood and serious injuries following a bus accident.

Few could have imagined El sueño (la cama) would eventually sell for $55m when it was first went under the hammer at Sotheby's for $51,000 in 1980, the auction house's head of Latin American art Anna Di Stasi said.

"This record-breaking result shows just how far we have come, not only in our appreciation of Frida Kahlo's genius, but in the recognition of women artists at the very highest level of the market," she added.

The previous highest price at auction for a work by a female artist is Georgia O'Keeffe's Jimson Weed / White Flower No.1, which was sold at Sotheby's in 2014 for $44m.

El sueño (la cama) is one of the few Kahlo paintings in the public market since the Mexican authorities declared her artworks as artistic monuments in the 1980s, preventing them from being exported without authorisation.

Kahlo's story was adapted into a biographical film starring Salma Hayek in 2002, telling the story of her rocky relationship with her husband, artist Diego Rivera, and her injuries.