A Claude Monet painting from his celebrated Haystacks series has smashed world records by selling for nearly $110.7m, or around €99m.

Six bidders battled for more than eight minutes in hope of acquiring the coveted work by the French Impressionist master. The identity of the winner was not revealed.

The sale set a new auction world record for a work by Monet and was the first example of Impressionist art to cross the $100m threshold at auction.

Sotheby's New York said the hammer price was some 44 times the figure it raised when it was last sold at auction in 1986.

It is one of only four works from the series that remain in private hands.

Monet painted his 25 "Meules" compositions during 1890-1891 at his home in Giverny, in France's Normandy region. 

In each piece, Monet showed the light and surroundings of the same scene as they changed at different times of day, with the varying seasons and during various types of weather. 

The piece sold at Sotheby's is among the most immediately recognisable Monet paintings.

It distinguishes itself from others in the series by its vibrant paint palette, dramatic diagonal brushstrokes of varying directions that meet at the centre and a unique perspective with only part of the first haystack appearing in the foreground.

The last record for a Monet painting was held in May 2018 during a Christie's sale of his "Nympheas en fleur" (Water Lilies in Bloom) for $84.6m