Klimt's 'Elisabeth Lederer' Portrait Sold for a Record $236.4 Million

Gustav Klimt's Iconic Artwork Sold at Record Price

The famous Austrian artist Gustav Klimt's 'Elisabeth Lederer' portrait was sold at a historic price of 236.4 million dollars at an auction held in New York. This sale is recorded as the highest amount ever seen in the modern art category.

Auction Details

The highly sought-after painting was sold at Sotheby's Auction House, created between 1914-1916 and measuring approximately 1.8 meters long. Lederer is depicted wearing a Chinese silk caftan in the painting.

Sale Process and Historical Background

The auction for this impressive work by Klimt lasted only 20 minutes. However, during this time, the final bid made for the painting marked a turning point in the evolution of modern art. Sotheby's has not yet disclosed the identity of the person who purchased the work.

Historical Journey

The story of the painting is filled with the drama of being looted during the Nazi era and nearly being lost in a fire during World War II. The artwork was returned to Lederer's brother Erich Lederer in 1948. It was later purchased in 1985 by Leonard A. Lauder, heir of the Estee Lauder family. Following Lauder's passing at the age of 92 in June, the painting was put up for sale again.