Created in 1992, Dead Troops Talk (A vision after an ambush of a Red Army patrol, near Moqor, Afghanistan, winter 1986) is one of Wall's most recognized and written-about works.
Christie's says the photograph sold Tuesday for US$3,666,500, setting a world auction record for the Vancouver artist.
Wall, who is known for large-scale photographs of contemporary everyday genre scenes, arranged the image with actors in the studio, photographed in individual sections later assembled digitally, and finally simulated a monumental outdoor photograph.
Christie's had estimated the 229.2 cm x 417.2 cm artwork could sell for between US$1.5 and US$2 million.
In 2007, Wall was named an officer of the Order of Canada.