A painting by the celebrated Austrian artist Gustav Klimt has shattered European auction records, fetching an astonishing £74 million at a London sale. The artwork, titled 'Lady With A Fan', achieved this monumental price at Sotheby's, underscoring the enduring and powerful appeal of Klimt's work on the international art market.
A Landmark Sale for a Masterpiece
The sale that truly captured global attention, however, was that of another Klimt portrait. Gustav Klimt's 'Portrait of Elisabeth Lederer' sold for a staggering £179.7 million ($236.4 million). This result makes it the most valuable artwork ever sold by the auction house Sotheby's in its long history. Furthermore, the painting is now officially the second most expensive work of art sold at auction anywhere in the world, surpassed only by Leonardo da Vinci's 'Salvator Mundi'.
The History and Survival of the Portrait
This six-foot oil-on-canvas portrait possesses a profound and turbulent history. Created by Klimt between 1914 and 1916, it depicts Elisabeth Lederer, the daughter of prominent Viennese art patrons. The painting's journey to the auction block is a tale of survival. It was once seized by the Nazis and later survived a devastating fire that destroyed other invaluable works by Klimt. During the occupation, Elisabeth Lederer herself reportedly used her close association with the artist as a form of protection.
More recently, the masterpiece originated from the esteemed collection of the late Leonard A. Lauder, an heir to the Estée Lauder fortune. Its sale was a centrepiece event for Sotheby's, featuring in their inaugural sale at the auction house's new Manhattan headquarters, adding a layer of modern significance to its storied past.
Implications for the Global Art Market
The record-breaking sale of the 'Portrait of Elisabeth Lederer' signals a robust and confident high-end art market. Achieving such a price for a work that is not by Leonardo da Vinci demonstrates the immense value placed on masterpieces with both exceptional provenance and a compelling historical narrative. This auction firmly re-establishes Gustav Klimt's position as one of the most sought-after and financially significant artists in history.
