One of the most iconic and polarising pieces of art created in the 1990s, Tracey Emin's My Bed, has sold for a new record for the artist at Christie's.

Nominated for the Turner Prize, the piece engaged the public like no other work of art of its day

The sale formed part of the Post-War and Contemporary Art auction held on July 1 in London, with My Bed realising a final price of £2.5m ($4.3m) - a 111.9% increase on its high estimate of £1.2m ($2m).

Produced in 1998, the installation was created by Emin - a leader of the Young British Artists movement - in her London flat and features stained sheets, empty bottles of alcohol and various detritus, which Emin describes as the result of depression following a traumatic break-up.

"In My Bed (1998) Tracey Emin shares with us her most personal space, revealing a dark moment from her life story with startling honesty and raw emotion," commented Christie's Francis Outred, head of post-war and contemporary art.

Nominated for the Turner Prize, the installation was brought to the attention of the public and divided opinions, bringing the media spotlight on Emin's career.

The piece was previously bought by renowned dealer Charles Saatchi for £150,000 ($256,893) in 2000. The main dealer of the Young British Artist movement, Jay Jopling, was the winning bidder in yesterday's auction.

The price represents a 22.4% pa increase on Saatchi's initial investment.

Emin's To Meet My Past, a four-poster bed featuring cushions and blankets embroidered with quotes and memories from her past, held the previous record for her work at auction. It sold for $770,500 at Christie's in 2013.

With the Young British Artists becoming highly collectible, now is the time to buy. Paul Fraser Collectibles has original artworks from Damien Hirst for sale.