Klimt's 'Portrait of Elisabeth Lederer' Fetches $236.4 Million, Sets New Modern Art Auction Record

Gustav Klimt's "Portrait of Elisabeth Lederer" sold for an astounding $236.4 million at Sotheby's in New York, establishing a new auction record for the artist and for modern art. The significant sale, part of the collection of the late Leonard Lauder, also positions the painting as the second most expensive artwork ever sold at auction. This landmark transaction represents a watershed moment for the art market.

The hammer price for the painting was $205 million, with the final cost to the bidder reaching $236,360,000 after the buyer's premium, as confirmed by social media reports from Yashar Ali. This figure significantly surpassed the previous auction record for a Klimt artwork by over $50 million. The intense bidding process for this rare masterpiece lasted approximately 20 minutes, drawing participation from multiple collectors.

This sale establishes "Portrait of Elisabeth Lederer" as the most valuable work ever sold by Sotheby's and the highest price achieved for any work of modern art at auction. It eclipses Pablo Picasso’s "Les Femmes d’Alger (“Version O”)" which sold for $179.4 million in 2015. The painting now ranks as the second most expensive artwork ever sold at auction, surpassed only by Leonardo da Vinci’s "Salvator Mundi," which fetched $450 million in 2017.

Painted between 1914 and 1916, "Portrait of Elisabeth Lederer" depicts the daughter of Klimt's significant patrons, Serena and August Lederer. The full-length portrait is notably "one of the few to remain in private hands," as stated in the initial report. It has a compelling history, having survived confiscation during the Nazi era and being restituted in 1948 before its acquisition by Leonard Lauder in the mid-1980s.

The painting was a centerpiece of the Leonard A. Lauder Collection sale, a 55-work trove valued at over $400 million, with proceeds benefiting the Lauder trust. This high-profile auction, held at Sotheby’s new headquarters in the refurbished Breuer Building, underscores robust demand for rare masterpieces despite broader market uncertainties. The successful sale signals a vibrant top-end art market.