A stunning portrait by the renowned artist Gustav Klimt has shattered records, fetching an astonishing $236.4 million (£179.7 million) during a dramatic evening sale at Sotheby's in New York. The sale establishes the piece as the most expensive work of modern art ever sold at auction.
The Bidding War for a Masterpiece
The auction for Portrait of Elisabeth Lederer commenced with an opening bid of $130 million. The atmosphere was electric as six determined bidders competed fiercely for the painting over a tense twenty-minute period. The final hammer price, which includes buyer's fees, soared to the historic $236.4 million figure, cementing its status as a landmark sale in art market history.
The Artwork and Its Subject
Gustav Klimt painted this exquisite portrait between 1914 and 1916. The subject, Elisabeth Lederer, was a young heiress and the daughter of Klimt's most significant patrons. The painting captures her draped in an elegant Chinese robe, a hallmark of Klimt's distinctive and opulent style. This personal connection to the artist's inner circle adds a profound layer of history and value to the work.
Historic Implications for the Art World
This sale has sent ripples through the global art market. Not only is the painting now the most expensive modern artwork sold at auction, but it also claims the title of the second most expensive artwork ever sold at auction in any category. This result underscores the enduring power and immense financial value of masterpieces by iconic artists like Gustav Klimt, demonstrating robust confidence in the high-end art market.
