Vonn's compatriot Alice McKennis, the 23rd skier to race, came closest to overtaking Goggia, but the American, whose only previous World Cup podium came in 2013, finished 0.22 behind the Italian to take third.
ÅRE: Italy's Olympic champion Sofia Goggia won the women's World Cup downhill title by three points on Wednesday despite finishing second to Lindsey Vonn at the season-ending showpiece in Åre, Sweden.
Vonn's victory came in Stenmark's home country, although the legend whose record was once thought to be unbeatable was not in attendance.
Vonn's 82nd World Cup win can't deny Goggia downhill glory
In a shortened race that was more like a sprint than a full downhill, Vonn clocked 55.65 seconds to finish 0.06 ahead of Goggia.
She becomes the fourth Italian woman to win an alpine skiing title after Deborah Compagnoni (1997 giant slalom), Isolde Kostner (2001 and 2002 downhill) and Denise Karbon (2008 giant slalom).
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It was a measure of revenge for Feuz, who took bronze behind Svindal and Kjetil Jansrud in the Olympic downhill.
After the race, Vonn remained steadfast in her career goals. "Sofia always gives it 110 percent and sometimes she wins, and sometimes she crashes". Although she's out of title contention for the crystal globe, she can still make progress in other ways during her last race of the season. "I feel like it's very similar to myself".
"I've never suffered so much waiting for the end of a race", Goggia said.More news: HTC U12+ design, specifications leaked
Wednesday's race started from the lower start position after the morning training run was canceled due to fog and snow, but that didn't stop Vonn from nailing her line on the course that will host the 2019 World Championships.
Breezy Johnson (Victor, Idaho) finished eighth.
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Vonn was chasing a ninth downhill Crystal Globe which would have seen her break the shared record with retired Swede Ingemar Stenmark for the most season titles in one discipline.