Klimt’s Glimmering Masterpiece Smashes Records in $236 Million Art War
-The ‘Portrait of Elisabeth Lederer’ just became the most valuable work ever sold by Sotheby’s—and the second most expensive painting ever at auction.
News article from Connoisseur Magazine,London based on SOTHEBY’S MEDIA RELEASE
20 November,2025
NEW YORK, 18 NOVEMBER 2025 — The art world just witnessed a modern-day gold rush. Gustav Klimt’s magnificent Portrait of Elisabeth Lederer didn’t just sell tonight; it detonated a new auction record, fetching a staggering $236.4 million and rewriting the history books for Sotheby’s.
In a furious, 20-minute bidding battle that likely had collectors chewing their manicures, the Klimt masterpiece soared past its estimates and more than doubled the artist’s previous auction record (which was ‘only’ $108.8 million in 2023).”Tonight, we made history at the Breuer… to see it become the most valuable work ever sold at Sotheby’s is nothing short of sensational.” — Helena Newman, Chairman of Impressionist and Modern Art Worldwide
The $236 Million Woman
The painting, a full-length, society portrait, depicts Elisabeth Lederer, the daughter of Klimt’s most important patrons, the Lederer family. For context, these people basically saved Klimt’s career! Elisabeth affectionately called the artist “Uncle,” and apparently, the sittings were quite the show. “Uncle [Klimt] cursed and swore; it was a real pleasure to listen to,” Elisabeth once recalled. (A true artistic temper tantrum, immortalized in gold leaf.)
Only two of these commissioned, pinnacle-period Klimt portraits were left in private hands, making this one a truly rare jewel. Tonight, it drew bids from no fewer than six super-collectors before finally being claimed by a client on the telephone.
Lauder’s Lasting Legacy
The headline-making sale was the jewel in the crown of a landmark auction dedicated to the collection of Leonard A. Lauder—the visionary collector and philanthropist who famously gifted 90 seminal Cubist works to the Metropolitan Museum of Art.
Lauder’s collection—which also includes works by Vincent van Gogh, Edvard Munch, and Henri Matisse—has been a magnet for visitors, with some 25,000 people flocking to the Breuer building to see the art during the pre-sale exhibition. Unsurprisingly, almost every work sold well above expectations.
The auction continued with the Contemporary Art Evening Auction, which featured, among other high-stakes pieces, Maurizio Cattelan’s infamous work, America—a fully functional toilet cast in 18-karat gold which was also sold on the night.
