Klimt Portrait from Estée Lauder Heir’s Collection May Top $150M at Sotheby’s
Gustav Klimt’s iconic work, “Portrait of Elisabeth Lederer,” is poised to make history at Sotheby’s next week. The painting is expected to sell for over $150 million, potentially eclipsing the artist’s previous auction record of $108 million set just two years ago.
About the Painting
“Portrait of Elisabeth Lederer” is a six-foot-tall masterpiece depicting a young heiress. Painted in 1916, it beautifully combines Klimt’s ornamental style with motifs inspired by Chinese art. Elisabeth Lederer was the daughter of one of Klimt’s wealthiest patrons.
The portrait, rich in color and detail, has remained mostly hidden from public view for decades. It was kept privately in the collection of Leonard A. Lauder, heir to the Estée Lauder cosmetics empire, until his passing in June 2023.
Historical Significance
This painting carries a tumultuous history, having been looted by the Nazis during World War II. Many works from the Lederer family collection were stored at Immendorf Castle, which ultimately burned down after the war. Fortunately, the family portraits were preserved because they were excluded from a public exhibition due to the Kleid family’s Jewish heritage.
Elisabeth Lederer faced significant challenges during the war, losing her family and possessions. She died before the war’s conclusion at the age of 50, with her fate remaining largely uncertain.
Leonard Lauder’s Collection
Lauder’s collection, which features “Portrait of Elisabeth Lederer,” also includes two other Klimt works—a pair of landscapes of Lake Attersee. These additional pieces are estimated to bring in at least $70 million and $80 million, respectively. Collectively, the entire Lauder collection could fetch over $400 million at auction.
Artistic Context
- Klimt’s portrait approaches an intimate representation of its subject, in contrast to the earlier painting of Elisabeth’s mother.
- The oil on canvas artwork showcases Klimt’s late style, characterized by fluid brushstrokes and an influence from Eastern art.
- Elisabeth is depicted wearing a striking robe featuring a Chinese dragon, symbolizing power and presence.
Legacy and Impact
Leonard Lauder, who significantly contributed to Klimt’s popularity in the United States, recognized the historical and aesthetic importance of the artist’s works. He began collecting Klimt in the 1970s, motivated by both personal heritage and cultural appreciation.
As the auction approaches, “Portrait of Elisabeth Lederer” emphasizes the intersecting worlds of art, history, and the profound stories behind each painting. This sale at Sotheby’s will not only mark a high point in contemporary art transactions but also serve as a reminder of Klimt’s enduring legacy and the complexities of art’s past.
