Klimt Portrait Sells For $236.4 Million, Most Expensive Artwork Ever Sold

Gustav Klimt’s “Portrait of Elisabeth Lederer” sold for $236.4 million Tuesday at Sotheby’s, becoming the most expensive modern artwork ever auctioned. The sale came from Leonard Lauder’s collection, the cosmetics heir and philanthropist who died in June at 92. Tuesday’s auction brought more than half a billion dollars, with 30 additional lots scheduled for Wednesday. Two other Klimt works also sold: “Forest Slope in Unterach on the Attersee” for $68 million and “Blooming Meadow” for $86 million. The Elisabeth Lederer portrait, painted between 1914 and 1916, is one of only two full-length Klimt portraits remaining in private hands. “He elevates her to almost mythical stature,” said Lisa Dennison, Sotheby’s executive vice president. Lauder purchased the masterpiece in 1985 and displayed it above his dining room table for decades. (Story URL)