In major auction night, rare Klimt painting smashes records at $236.4 million [CNN]
Estee Lauder Companies, Inc. (The) (EL)
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Source: CNN
Early on, the headlining artwork by Gustav Klimt, “Portrait of Elisabeth Lederer,” became the most valuable work of modern art to ever sell at auction, reaching $236.4 million to gasps and applause from the room during the 20-minute bidding war. It was also the most expensive work of art ever sold by Sotheby's globally. The portrait of Klimt's patrons' young daughter, made in the last years of the artist's life, was spared from destruction during World War II when it was separated from his works that later burned during a fire at Immendorf Castle in Austria. The artwork was part of the collection of Estée Lauder heir Leonard A. Lauder, who died earlier this year. Across the sale, artworks met or exceeded their high estimates, including an Edvard Munch painting at $35.1 million. The sale so far has marked a triumphant night for the top end of the art market, which has been experiencing a slowdown for more than two years. During the contemporary sales, following the Lauder collec
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- 12/1/25 - Form 4
- EL's page on the SEC website