"Gustav Klimt's six-foot-tall Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer (1914-16) sold for $205m ($236.3m with fees) at its auction debut at Sotheby's New York on Tuesday night (18 November). After a nearly 20-minute bidding war that proceeded at times in increments of $5m and sprang back to life after several "fair warnings" from auctioneer Oliver Barker, the painting ultimately went to a bidder on the phone with Julian Dawes, Sotheby's vice chairman and head of Impressionist and modern art."
"Portrait of Elisabeth Lederer is the second-most valuable work of art ever sold at auction, surpassing Andy Warhol's Sage Shot Blue Marilyn (1964) that sold for $195m with fees at Christie's New York in 2022. The painting is also the most valuable work ever sold by Sotheby's. Portrait of Elisabeth Lederer also broke Klimt's auction record, surpassing Dame mit Fächer (Lady with Fan, 1917), which sold for £85.3m (with fees) at Sotheby's in London in 2023."
Gustav Klimt's six-foot-tall Portrait of Elisabeth Lederer (1914–16) sold for $205m ($236.3m with fees) at Sotheby's New York on 18 November after a nearly 20-minute bidding war. Bidding moved in increments of $5m at times, resumed after several "fair warnings" from auctioneer Oliver Barker, and the lot was won by a phone bidder represented by Julian Dawes. The sale set a Sotheby's record and became the second-most valuable work ever sold at auction, surpassing Andy Warhol's Blue Marilyn, and eclipsed Klimt's prior record from 2023. The painting was the top lot from Leonard A. Lauder's collection and had been on long-term loan to the National Gallery of Canada.
Read at The Art Newspaper - International art news and events
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