19th November 2025
Klimt’s Portrait of Elisabeth Lederer has taken the art world by storm, setting a jaw-dropping record with a $236.4 million auction sale. This remarkable result makes Klimt’s Portrait the second most expensive artwork ever sold and the highest-priced modern artwork in auction history. Its dramatic past and rarity helped fuel intense global interest.
A Tumultuous Journey Through History
What makes this artwork even more remarkable is its survival.
The work fell into Nazi hands during the war and survived a fire that nearly wiped it out. Miraculously, it resurfaced and was returned in 1948 to Elisabeth’s brother, Erich Lederer, a close friend of Egon Schiele. The painting stayed with him for most of his life until he sold it in 1983.
Two years later, in 1985, the portrait entered the collection of Leonard A. Lauder, the billionaire Estée Lauder heir who kept it prominently displayed in his Fifth Avenue home. Lauder, who passed away earlier this year at age 92, considered the Klimt portrait the crown jewel of his art collection.
According to Lauder’s longtime art adviser, Emily Braun, he’d even eat lunch beside the painting every day he was home. That’s how personal it was to him.
The portrait is also one of only two full-length Klimt portraits still in private hands a rarity that helped fuel its explosive value.
Table: Klimt’s Portrait vs Other Historic Art Sales
| Artwork | Artist | Year Sold | Sale Type | Price | Ranking |
| Salvator Mundi | Leonardo da Vinci | 2017 | Auction | $450.3M | #1 |
| Portrait of Elisabeth Lederer | Gustav Klimt | 2024 | Auction | $236.4M | #2 |
| Portrait of Adele Bloch-Bauer I (Woman in Gold) | Gustav Klimt | 2006 | Private Sale | $135M | N/A |
| Lady with a Fan | Gustav Klimt | 2023 | Auction | $108M | Previous Klimt Auction Record |
| America (Gold Toilet) | Maurizio Cattelan | 2024 | Auction | $12.1M | Satirical Modern Art |
A Bidding War That Stunned the Room
At Tuesday night’s Sotheby’s auction in New York, six bidders fought for 20 intense minutes. The room went silent as the price climbed past the already-high expectations.
Experts predicted the painting would sell for around $150 million, but it soared far beyond that accounting for more than 40% of the total value of the Lauder collection, which brought in $575.5 million overall.
The buyer remains anonymous, as is typical for sales of this scale.
This sale breaks Klimt’s previous auction record of $108 million, set just last year for Lady with a Fan. Even Klimt’s legendary Portrait of Adele Bloch-Bauer I sold privately in 2006 for $135 million now sits far behind this new milestone.
Only one artwork in history has ever sold for more at auction:
Leonardo da Vinci’s “Salvator Mundi,” sold in 2017 for $450.3 million.
The Auction Took a Surprising Turn… Into Solid Gold
After the Lauder masterpieces were sold, the evening’s modern art auction got even stranger and shinier.
Sotheby’s featured a fully functional, 101-kg toilet made of 18-karat solid gold, titled “America.”
Created by the ever-provocative Maurizio Cattelan (yes, the artist who taped a banana to a wall and sold it for millions), the gold toilet was meant as a satire of extreme wealth.
Despite the hype, the toilet received just one bid, selling for $12.1 million with fees.
This wasn’t even the first golden toilet Cattelan made. The other was famously installed at the Guggenheim in 2016 — and stolen from Blenheim Palace three years later. It has never been recovered, and investigators suspect it was melted down. Two men were convicted in the heist.
Cattelan once summed up the piece with a line that captures his humor perfectly:
“Whether you eat a $200 lunch or a $2 hot dog, the results are the same.”
Why This Klimt Sale Matters
- It reaffirms Klimt as one of the most coveted artists of all time.
- It shows the continued strength of the high-end art market.
- It highlights historical works outperforming contemporary trends.
- It marks the most expensive modern artwork ever auctioned.
- It cements Lederer’s portrait as a cultural and financial titan.
FAQs: Klimt’s $236.4M Painting Sale
Because it is one of only two full-length Klimt portraits left in private hands, carries deep historical significance, survived Nazi looting, and showcases Klimt’s iconic late style. Its rarity and provenance pushed its value sky-high.
The buyer remains anonymous, which is common in ultra-high-value art sales.
No. It’s the second most expensive art sale at auction. The top spot still belongs to Leonardo da Vinci’s Salvator Mundi ($450.3M).
It stands at six feet tall, making it one of Klimt’s most striking full-length works.
The portrait was looted during WWII, nearly destroyed in a fire, and later reclaimed by the Lederer family. Its survival story adds immense emotional and cultural value.
Conclusion
The sale of Gustav Klimt’s Portrait of Elisabeth Lederer is more than an auction headline — it’s a dramatic reminder of how art survives, evolves, and gains power over time. A painting nearly destroyed in war now stands as one of the most valuable works in history.
From Nazi looting to Fifth Avenue elegance to a $236 million bidding battle, this portrait’s journey is as extraordinary as the artwork itself.
And in a night that swung from old-world mastery to 24-karat satire, the art market proved once again:
there is no limit to what collectors will chase or pay for.
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