In a stunning event that has reshaped the art market, a magnificent portrait by Austrian master Gustav Klimt has been sold for a staggering $236.4 million. The sale, which took place at Sotheby's, has officially crowned Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer) as the most expensive work of modern art ever sold at auction.
A Record-Breaking Evening at Sotheby's
The historic sale occurred on a Tuesday evening at Sotheby's first auction in its new location within New York's iconic Breuer building. This monumental price not only secures the painting's status as the top-selling modern artwork but also elevates it to the position of the second most expensive artwork ever sold at auction in history. The only piece to surpass it is Leonardo da Vinci's Salvator Mundi, which fetched $450.3 million back in 2017.
The Painting and Its Protagonist
Created between 1914 and 1916, this six by four feet oil on canvas is a breathtaking example of Klimt's genius. The painting depicts Elisabeth Lederer, the young daughter of the artist's most significant patrons, Serena and August Lederer. At barely twenty years old, Elisabeth is portrayed with a self-possessed aura, dressed in a shimmering white gown.
The composition is rich with symbolism and detail. She stands on a carpeted floor against a dreamy wisteria backdrop, flanked by figures adorned in dragon robes. Art experts note that her expression is enigmatic, with subtle touches by Klimt turning her lips upward into a faint smile. The rendering of her hands, however, suggests a touch of restlessness. Every element, from the white flower in her hair to the penetrating black of her eyes, was meticulously planned to captivate the viewer.
A Dramatic History: From Near-Destruction to Triumph
The portrait's journey to this record-breaking sale is a tale of survival. The canvas has a dramatic past, having been looted by the Nazis and then nearly destroyed in a fire during World War II. Miraculously, it survived and was returned to Elisabeth's brother, Erich Lederer, in 1948. He later sold the painting in 1983.
In 1985, the masterpiece found a new home in the prestigious private art collection of Leonard A. Lauder, the heir to the Estée Lauder empire and a renowned American art collector. It remained with him until his passing earlier this year, preceding this historic sale. This portrait is especially significant as it is one of only two full-length Klimt portraits still held in private hands and is the second of three portraits the artist made of the Lederer women across three generations.
The sale of Klimt's Bildnis Elisabeth Lederer is more than just a transaction; it is a celebration of art's enduring power to overcome adversity and captivate the world, generation after generation.
