Gustav Klimt Painting: Gustav Klimt’s 1914–1916 masterwork, Portrait of Elisabeth Lederer, has sold for an extraordinary $236.4 million at Sotheby’s New York, setting a new record for the most expensive modern artwork ever auctioned and becoming the second most expensive painting ever sold publicly.
The six-foot portrait, marked by wartime survival, rare provenance, and unparalleled artistic significance, sparked a fierce 20-minute bidding battle that reflected a powerful resurgence in the global art market.
Key Takeaways: Record-Breaking Gustav Klimt Painting Sale That Reshaped the Modern Art Market
- Portrait of Elisabeth Lederer sold for $236.4 million, far above its $150 million estimate.
- Becomes the world’s most expensive modern artwork at auction and Sotheby’s costliest sale ever.
- Second only to Leonardo da Vinci’s Salvator Mundi ($450 million).
- Survived Nazi looting and near destruction during WWII.
- Part of Leonard A. Lauder’s renowned private collection.
- At least six bidders competed intensely for 20 minutes.
- More than 25,000 viewers visited its pre-sale exhibition.
- Other Klimt works in the sale reached $86M and $70.8M.
- Gold toilet America by Maurizio Cattelan sold for $12.1M.
- Auction signals a revived global demand for museum-quality art.
A Historic Auction Marks a New Chapter for Sotheby’s
Sotheby’s opened its new Breuer Building headquarters with an unforgettable evening sale that drew global attention. The highlight was the Gustav Klimt painting Portrait of Elisabeth Lederer, which attracted extraordinary footfall during the preview period. Long lines wrapped around the block, and more than 25,000 people visited the exhibition, underscoring the painting’s immense pull.
The auction atmosphere was electrifying. Bidding escalated quickly as collectors from different regions competed for the rare full-length portrait. Julian Dawes, Sotheby’s Head of Impressionist and Modern Art, secured the winning phone bid after an intense 20-minute duel, well beyond the original estimate.
Helena Newman, Sotheby’s Global Chairman of Impressionist and Modern Art, described the moment as a milestone: “Tonight, we made history at the Breuer.”
Why the Gustav Klimt Painting Commanded an Unprecedented Price
One of Only Two Full-Length Klimt Portraits in Private Hands
Standing six feet tall, Portrait of Elisabeth Lederer is one of only two full-length Klimt portraits still privately owned. Its scale, elegance, and technical detail distinguish it as one of the artist’s most admired works.
A Masterpiece Blending Global Influences
Elisabeth Lederer is depicted in a sheer floral gown adorned with a 19th-century imperial Chinese dragon robe—traditionally an emperor’s garment. The painting’s Asian-influenced background includes soldiers, courtiers, celestial symbols, and tapestry-like motifs, showcasing Klimt’s fusion of Western portraiture with international aesthetics.
Prestigious Provenance: The Lauder Collection
The painting gained prominence through its placement in the prestigious collection of the late Leonard A. Lauder, heir to the Estée Lauder cosmetics empire. Lauder displayed the Klimt prominently in his Fifth Avenue residence and was known for his meticulous curation. His reputation for maintaining museum-quality works significantly enhanced buyer confidence.
A Wartime Story That Defines Its Legacy
The painting’s historical significance is profound. During the Nazi annexation of Austria in 1938, the Lederer art collection was seized. Many Klimt works were stored in a castle that later burned, destroying numerous masterpieces. Portrait of Elisabeth Lederer survived only because Nazis deemed family portraits “too Jewish” to steal.
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Elisabeth Lederer’s survival during WWII was tied to the painting itself. Facing persecution, she fabricated a story claiming Gustav Klimt—who was not Jewish—was her biological father. With the support of her former brother-in-law, a high-ranking Nazi official, she secured documentation that allowed her to remain safely in Vienna until her death in 1944.
In 1948, the painting was returned to her brother, Erich Lederer, who kept it for decades before selling it in 1983. It entered Lauder’s collection in 1985.
Lauder Estate Works Drive a Powerful Night of Sales
The Klimt portrait was part of a wider offering of 24 works from the Lauder estate, all of which sold for a combined $528 million, far surpassing the expected $379 million.
Two additional Klimt landscapes reached impressive figures:
- Blooming Meadow sold for $86 million
- Forest Slope in Unterach sold for $70.8 million
Works by Vincent van Gogh, Henri Matisse, Edvard Munch, and Agnes Martin also performed strongly, reinforcing the renewed appetite among top-tier collectors.
Across New York’s fall auction week, Christie’s recorded strong sales as well, with Mark Rothko’s No. 31 (Yellow Stripe) selling for $62.2 million and major pieces by Monet, Picasso, and Joan Mitchell attracting competitive bidding.
Maurizio Cattelan’s Gold Toilet Adds a Surreal Twist
Another striking item at the Sotheby’s sale was Maurizio Cattelan’s fully functional 18-karat solid gold toilet titled America. Weighing 101 kilograms, it sold for $12.1 million after a single bid—roughly matching its melt value.
The artwork has a dramatic history:
- Displayed at the Guggenheim Museum
- Offered as a satirical loan to Donald Trump
- Stolen from Blenheim Palace, never recovered
- Believed to have been melted down
Cattelan famously remarked that the piece satirizes extreme wealth: “Whether you eat a $200 lunch or a $2 hot dog, the results are the same.”
A Defining Moment for the Future of the Art Market
The record-breaking sale of the Gustav Klimt painting reflects a pivotal shift in the global art landscape. After years of cautious spending driven by economic uncertainty and geopolitical tensions, collectors are once again willing to compete fiercely for rare, well-provenanced masterpieces. With both Sotheby’s and Christie’s reporting strong totals, the 2025 art season signals a clear and confident market rebound.
FAQs on Gustav Klimt’s $236.4 Million Portrait of Elisabeth Lederer
1. Why did Gustav Klimt’s Portrait of Elisabeth Lederer sell for $236.4 million?
The painting’s rarity, pristine condition, wartime history, and prestigious Lauder provenance drove intense bidding, making it the most expensive modern artwork ever auctioned.
2. What makes Elisabeth Lederer’s portrait historically significant?
The portrait survived Nazi looting, WWII destruction, and helped Elisabeth evade persecution after she claimed Klimt was her biological father.
3. Who bought the Klimt painting at Sotheby’s?
Sotheby’s did not reveal the buyer. The winning bid came through a phone client represented by Julian Dawes.
4. How many Klimt works were sold from the Lauder collection?
Five Klimt pieces from the Lauder estate sold, totaling $392 million, including two major landscapes.
5. What other unusual item drew attention at the Sotheby’s auction?
Maurizio Cattelan’s 18-karat gold toilet titled America sold for $12.1 million, despite receiving only one bid.
