The portrait of Elisabeth Lederer, painted by Gustav Klimt between 1914 and 1916, was sold for US$ 236.4 million in an auction held by Sotheby’s in Nova York this Monday (18). The sale set a new record for a work of modern art on auction and for the auction house itself. The value exceeded by more than twice the price paid for another Klimt screen, Lady with an Fan, sold for US$108 million in 2023.
The painting, which belonged to the private collection of billionaire Leonard Lauder, who died in June 2025, remained out of the public eye for decades. Agora, the painting becomes the second most expensive work ever auctioned, behind only Salvator Mundi of Leonardo of Vinci, sold for US$450.3 million in 2017.
Details of the work and auction
The painting measures almost two meters in height and shows Elisabeth Lederer, then 20 years old, daughter of patrons August and Serena Lederer. Executado in the last years of the Austrian artist’s life, the portrait deviates from the golden glow typical of the so-called Período Dourado of Klimt.
The composition features vibrant tones and the influence of oriental art, with a white dress that wraps the figure like a cocoon. The sky blue background creates contrast with the minute details of the costume.
History of family and painting
The Lederer family, of Jewish origin, was one of the main collectors of Klimt in Viena. Após the annexation of Áustria by the Nazi Alemanha in 1938, the collection was confiscated by the authorities.
Elisabeth obtained protection by claiming, with a document signed by her mother, that Klimt was her biological father. The statement was accepted and guaranteed status that saved her from more serious persecution.
Symbolic elements in the frame
The dress features stylized dragons reminiscent of Qing Dynasty fabrics, symbols of imperial power. Stylized Ondas go up the model’s legs.
Oval shapes and concentric circles refer to microscopic images of cells, a topic that interested the painter after anatomy lectures at Universidade and Viena.
- Oriental motifs coexist with references to the science of the time
- Intense colors mark the transition to the final phase of Klimt production
- Elongated figure suggests transformation, like a butterfly emerging from a cocoon
Position in the art market
With the result, Klimt surpasses Andy Warhol, whose portrait of Marilyn Monroe had been sold for US$ 195 million in 2022. The Austrian artist consolidates leadership among modern artists at auctions.
The Elisabeth Lederer screen had reappeared on the market in the 1980s, when it joined the Leonard Lauder collection, heir to the Estée Lauder.
Context of the current sale
The auction took place in a session dedicated to modern and contemporary masters at Sotheby’s New York headquarters. The final price included house fees and commissions.
The work has remained in private hands since the 1980s, which increased collector interest. The value reflects the rarity of late Klimt paintings available on the market.
The sale reinforces the strength of works from the beginning of the 20th century with documented provenance and historical importance recognized by the international market.
