A Gustav Klimt painting was sold for $236.4 million on Tuesday, November 18, becoming the world’s most expensive modern artwork ever sold at auction as well as the second-priciest work of art ever auctioned in history, The Wall Street Journal reported. The auction took place at Sotheby’s new premises at the Breuer building in New York, marking the auction house’s first event there.
Gustav Klimt’s “Bildnis Elisabeth Lederer” (Portrait of Elisabeth Lederer), sold for $236.4 million at auction Tuesday, November 18, 2025, in New York. (AP)
Klimt’s work joins a select group of pieces that have sold for over $100 million. Other artists in this category include Francis Bacon, Andy Warhol and Pablo Picasso. The painting is now the top work ever auctioned off by Sotheby’s.
The painting’s recent auction is expected to add momentum to an art market that is enjoying a turnaround after three sluggish years.
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Gustav Klimt’s record-breaking painting
Titled Portrait of Elisabeth Lederer, the six-foot-tall painting was created by Klimt between 1914 and 1916. The portrait shows Lederer, the daughter of Klimt’s patrons and a young heiress, draped in a Chinese robe, The Guardian reported. The artwork shows her posing in a white dress against a periwinkle backdrop.
“The portrait merges East and West, fashion and fantasy, turning Elisabeth into an emblem of Vienna’s golden age of culture and style,” according to Sotheby’s official website.
At least six bidders vied for the painting, with one telephone bidder jumping into the auction only once the price had reached $171 million. Another telephone bidder won the Klimt eventually, but only after a 20-minute bidding war. The identity of the buyer was not revealed by Sotheby’s.
Before the sale, Sotheby’s had said it only expected to receive around $150 million for Elisabeth Lederer. The previous record for a Klimt painting was the Austrian symbolist’s Lady With a Fan, which was sold for $108.8 million in 2023.
As per The Guardian, Portrait of Elisabeth Lederer was looted by the Nazis and almost destroyed in a fire during World War II. In 1948, it was returned to Lederer’s brother Erich. He kept the painting for most of his life until he sold it in 1983, two years before his demise. After that, the Klimt was in the possession of Lauder heir Leonard A Lauder, who kept it in his Fifth Avenue home in New York. Lauder died in June 2025.
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Most expensive painting ever sold
The record for the most expensive painting ever sold remains Salvator Mundi by Leonardo da Vinci, which was auctioned for $450 million in 2017 by Christie’s.
FAQsFor how much was the Gustav Klimt painting sold?
The painting, titled Portrait of Elisabeth Lederer, was auctioned for $236.4 million.
Who bought Portrait of Elisabeth Lederer?
The identity of the buyer was not revealed by Sotheby’s.
Which is the most expensive artwork ever sold?
Leonardo da Vinci’s Salvator Mundi was sold for $450 million, etching its name in the history books.