8legs: Sotheby's auction

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Gustav Klimt portrait breaks modern art record at auction

Klimt’s Portrait of Elisabeth Lederer sold for $236.4 million at Sotheby’s in New York, setting a modern art record.
The 1.8-meter portrait was painted between 1914 and 1916 and depicts Elisabeth Lederer.
Elisabeth Lederer reportedly used a Klimt connection to mislead Nazis and survive during the Holocaust.
Five Klimt pieces from Leonard Lauder’s collection were sold at the same auction for a combined $392 million.
Sotheby’s declined to identify the portrait’s buyer.
The Klimt portrait is one of two full-length Klimt works still privately owned.
The Lederer family portraits survived looting after Nazis seized many artworks.
Leonard Lauder, heir to Estée Lauder, owned the Klimt works on display in the auction.
Lauder died this year at 92, leaving a collection valued over $400 million.

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