Gustav Klimt Painting Achieves Second Highest Auction Price Ever
A recent auction in New York showcased a remarkable sale involving a portrait by the renowned Austrian artist Gustav Klimt. The artwork, titled *Portrait of Elisabeth Lederer*, fetched an astonishing $236.4 million (£179 million). This sum marks it as the second highest auction price ever recorded for a painting.
Details of the Auction
The auction took place at Sotheby’s and attracted six bidders, who engaged in a fierce 20-minute bidding war. Despite the intense competition, the identity of the buyer has not been revealed. Prior to the auction, the painting was estimated to sell for around $150 million.
Historical Context
- Created between 1914 and 1916, the portrait depicts Elisabeth Lederer, an heiress and daughter of one of Klimt’s patrons.
- The artwork was tragically looted by the Nazis and nearly lost in a fire during World War II.
- In 1948, it was rescued and returned to Lederer’s brother, Erich, who was also a friend of Klimt.
The painting remained in the Lederer family until 1983 when it was sold. Notably, it later became part of Leonard A. Lauder’s private collection in 1985, where it was displayed in his Fifth Avenue home in New York.
A Noteworthy Auction Record
The second highest auction price for a Klimt painting, before this sale, was *Lady with a Fan*, which sold for $108.8 million in 2023 in London. Other Klimt artworks from Lauder’s collection were also auctioned, including *Flowering Meadow* and *Forest Slope at Unterach am Attersee*, with prices ranging between $60 million and $80 million.
Comparison with Other High-Value Art Sales
The most expensive artwork ever sold at auction remains *Salvator Mundi*, attributed to Leonardo da Vinci, which achieved a staggering $450.3 million in 2017. The auction also featured a surprising sculpture by Maurizio Cattelan—a fully functioning gold toilet—which sold for $12.1 million, receiving just one bid.
This record-setting sale not only highlights Klimt’s enduring legacy but also underscores the ongoing demand for iconic artworks in today’s art market.
