The renowned Austrian painter Gustav Klimt's masterpiece 'Portrait of Elisabeth Lederer' has shattered records by fetching a remarkable $236.4 million at auction—over 20 billion rupees. This makes it the second most expensive artwork ever sold at auction and the priciest among modern art pieces.
The painting, standing six feet tall, was crafted by Klimt between 1914 and 1916. It captures the youthful heiress Elisabeth Lederer draped in a Chinese robe. Lederer was the daughter of Klimt's caretakers and holds a fascinating backstory.
On Tuesday night at Sotheby's auction in New York, six eager bidders vied for the painting over the course of 20 minutes. However, the auction house opted not to disclose the identity of the buyer.
Remarkably, the Elisabeth Lederer painting was looted by Nazis and nearly destroyed in a fire during World War II. In 1948, it was returned to Lederer's brother, Erich. Klimt's friend and artist Egon Schiele created several paintings and drawings based on Erich, emphasizing the artistic circle they shared. The painting remained with Erich until he sold it in 1983.
By 1985, the painting became part of Leonard A. Lauder's private art collection from the Estée Lauder empire. It was proudly displayed in his Fifth Avenue residence in New York. Lauder passed away at the age of 92 in June.
Lauder's art advisor, Emily Braun, described the painting as the 'crown jewel' of his collection when speaking to CNN. She fondly recalled, 'He always enjoyed his lunch sitting beside this masterpiece on a small round table.'
This painting is one of Klimt’s only two full-length portraits, both now in private collections. Initially estimated to fetch over $150 million, the painting significantly exceeded expectations at auction. Lauder's entire collection garnered $575.5 million, with this artwork alone accounting for more than 40% of the total value.
This sale set a new record for the most expensive Klimt painting ever auctioned. Previously, his work 'Lady With a Fan' sold for $108 million in 2023.
In a noteworthy private deal in 2006, Lauder’s brother Ronald acquired another famous Klimt painting, 'Portrait of Adele Bloch-Bauer I (Woman in Gold),' for $135 million.
Notably, the highest auction price for any artwork remains Leonardo da Vinci’s 'Salvator Mundi,' which sold for $450.3 million in 2017.
Source: aajtak
Following the auction of Lauder’s collection, Sotheby’s held another sale featuring modern art. Highlighting the auction was a toilet seat made entirely of gold, serving as a satire on the super-wealthy.
This golden toilet seat, crafted by Italian artist Maurizio Cattelan, weighs an impressive 101 kilos. Named America, the piece sold for $10 million (including fees totaling $12.1 million).
In 2016, Cattelan created two golden toilets. One was put on display in New York's Guggenheim Museum, which humorously offered it to then-President Donald Trump as a loan. The other was stolen from England’s Blenheim Palace.
Two individuals were found guilty of the theft, but the golden toilet has never been recovered. It is speculated to have been melted and sold in pieces shortly after the heist.
Cattelan claims his golden toilets are a tongue-in-cheek commentary on extreme wealth. He famously stated, 'Whether you dine on a $200 gourmet meal or a $2 hot dog, the result is the same in the toilet.'
