Watch the Record-Breaking Auction of This Gustav Klimt Portrait, Which Just Became the Second Most Expensive Painting Ever Sold

Gustav Klimt's "Portrait of Elisabeth Lederer" sold at Sotheby's for $236.4 million on November 20, 2025, becoming the most expensive modern artwork ever auctioned and the second most expensive painting overall. The life-size oil painting, created between 1914 and 1916, depicts the 20-year-old daughter of prominent Jewish art collectors. After a 20-minute bidding war starting at $130 million, an anonymous telephone bidder won the work, which had been owned by cosmetics heir Leonard Lauder until his death in June 2025.

Gustav Klimt's rare 'Elisabeth Lederer' painting fetches record $236.4 million - Most expensive work of mo

Gustav Klimt's portrait 'Elisabeth Lederer' sold for $236.4 million at Sotheby's on Tuesday, setting a new record as the most expensive work of modern art ever sold at auction. The painting, created in the final years of Klimt's life, narrowly survived World War II after being separated from other works destroyed in a fire at Immendorf Castle. It came from the collection of Estée Lauder heir Leonard A. Lauder, who died earlier this year. The sale also featured Maurizio Cattelan's 18-karat gold toilet 'America', which drew only a single bid and sold for $12.1 million.

A gold toilet and the most expensive modern artwork ever sold at auction boost the New York market

Sotheby's New York held a landmark auction evening on November 18, 2025, featuring two headline-grabbing lots: Gustav Klimt's 'Portrait of Elisabeth Lederer' (1914-16), which sold for $236.4 million, becoming the most expensive modern artwork ever sold at auction, and Maurizio Cattelan's solid-gold toilet 'America', which sold for a disappointing $12.1 million after a single bid. The Klimt came from the collection of the late cosmetics heir Leonard Lauder, whose two-night auction total reached $527.5 million. The toilet, previously owned by investor Steve Cohen, had been commissioned when gold prices were far lower, ensuring the seller a profit regardless of the modest bidding.

Sotheby’s Shatters Records at Its Breuer Debut as a $236.4M Klimt Leads the $706M Evening Sale

Sotheby's held its debut evening sale at the Breuer building in New York on November 18, achieving a record-breaking $706 million total. The highlight was the white-glove auction of Leonard A. Lauder's collection of 20th-century masterpieces, which alone brought $527.5 million. Gustav Klimt's portrait *Bildnis Elisabeth Lederer* (1914-16) sold for $236.4 million, setting a new record for the artist and for Sotheby's Modern category. The evening also included a strong Contemporary sale led by Maurizio Cattelan's golden toilet at $12.1 million, with active bidding from Asian collectors.

Gustav Klimt's rare 'Elisabeth Lederer' painting fetches record $236.4 million - Most expensive work of mo

Gustav Klimt's rare portrait 'Elisabeth Lederer' sold for $236.4 million at Sotheby's, setting a new record as the most expensive work of modern art ever sold at auction. The painting, created in the final years of Klimt's life, narrowly survived World War II after being separated from other works destroyed in a fire at Immendorf Castle. It came from the collection of Estée Lauder heir Leonard A. Lauder, who died earlier this year. The sale also featured Maurizio Cattelan's 18-karat gold toilet 'America', which drew only a single bid and sold for $12.1 million.

Record $236.3m Klimt leads Sotheby’s first night of auctions in Breuer Building

Sotheby's first evening auctions in its new Manhattan headquarters, the former Whitney Museum building designed by Marcel Breuer, achieved a record total of $605.1 million ($706 million with fees) on November 18. The night was headlined by the sale of 24 works from the collection of the late billionaire Leonard Lauder, which alone brought in $456.2 million. The standout lot was Gustav Klimt's 'Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer, 1914-16)', which sold for $205 million ($236.3 million with fees) after a nearly 20-minute bidding war, becoming the second-most-expensive painting ever sold at auction. A subsequent contemporary art auction added $148.8 million ($178.5 million with fees) across 44 lots.

Gold toilet, Klimt portrait sell for millions at Sotheby’s

A portrait by Gustav Klimt, *Portrait of Elisabeth Lederer* (1914–1916), sold for $236 million at Sotheby's in New York, setting a record for the highest price ever achieved at the auction house. The same evening, a solid gold functional toilet titled *America* by Maurizio Cattelan fetched $12.1 million, with proceeds satirizing superwealth. The Klimt painting, one of few to survive World War II intact, came from the collection of late billionaire Leonard A. Lauder.

In major auction night, rare Klimt painting smashes records at $236.4 million

Sotheby's inaugural sale at its new New York headquarters on Tuesday evening set multiple records, led by Gustav Klimt's "Portrait of Elisabeth Lederer," which sold for $236.4 million—the most valuable work of modern art ever auctioned and the highest price ever achieved by Sotheby's globally. The painting, spared from destruction during World War II, was part of the collection of Estée Lauder heir Leonard A. Lauder, whose holdings fetched $527.5 million total. Other highlights included an Edvard Munch painting at $35.1 million, a Klimt landscape at $86 million, and a Jean-Michel Basquiat work at $48.3 million, while a Cecily Brown set a new record at $9.8 million. However, works by Kerry James Marshall and Barkley L. Hendricks failed to sell, and Maurizio Cattelan's gold toilet "America" drew only a single bid from Ripley's Believe It or Not! at $12.1 million.

Gold toilet, Klimt portrait sell for millions at Sotheby’s

A portrait by Gustav Klimt, *Portrait of Elisabeth Lederer* (1914–1916), sold for $236 million at Sotheby's in New York, setting a record for the auction house. The painting, depicting the daughter of Klimt's patron, was part of the collection of late billionaire Leonard A. Lauder. In the same sale, Maurizio Cattelan's solid gold toilet *America* (2016) fetched $12.1 million, with the piece satirizing superwealth. The toilet had previously been exhibited at the Guggenheim Museum and was stolen from Blenheim Palace in 2019; its current whereabouts remain unknown.

Jenny Saville Is Getting a Landmark Exhibition in Venice

Jenny Saville will be the subject of a major new exhibition at Venice’s International Gallery of Modern Art at Ca’ Pesaro, opening March 28, 2026 and running through November 22, 2026, alongside the 61st Venice Biennale. The show will feature around 30 paintings spanning her career from the 1990s to the present, including seminal works like *Hyphen* (1999) and *Reverse* (2002–13), and will conclude with a new series created in homage to Venice. The exhibition is curated by Ca’ Pesaro director Elisabetta Barisoni and supported by Gagosian.

This month’s New York auctions could bring up to $2.3bn

New York's leading auction houses, including Sotheby's and Christie's, expect to generate between $1.7bn and $2.3bn during their November sales, driven by major consignments such as 55 works from the estate of Leonard Lauder and 37 works from the collection of Jay and Cindy Pritzker. Sotheby's, which has moved its headquarters into the former Whitney Museum's Breuer Building, leads the season with estimated sales of $863m to $1.175bn, featuring Gustav Klimt's Portrait of Elisabeth Lederer (estimated at $150m) and Frida Kahlo's El Sueño (La Cama) (estimated at $40m-$60m).

Maurizio Cattelan’s Gold Toilet Returns to Market at Sotheby’s This November

Sotheby's has announced that an edition of Maurizio Cattelan's gold toilet sculpture "America" (2016) will be auctioned in its The Now & Contemporary Evening Auction on November 18, 2025, with a starting bid of approximately $10 million based on its 101.2-kilogram weight in gold. The work first gained fame at the Solomon R. Guggenheim Museum in New York in 2009, where over 100,000 visitors used it, and later made headlines when it was stolen from Blenheim Palace in a raid that caused structural damage and flooding. The stolen piece was never recovered and is presumed melted down, making this edition the only one in existence.

51% of Men Say Mona Lisa "Should Smile More"

A new visitor experience survey at the Louvre Museum has revealed that 51% of male respondents believe Leonardo da Vinci's Mona Lisa "should smile more." The finding highlights a specific demographic's critique of the artwork's famously enigmatic expression.

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The UK government has announced a £1.5 billion funding package for the arts, described as the biggest reset for the sector in a generation. Culture secretary Lisa Nandy said London-based national museums like the British Museum and National Portrait Gallery will receive £600 million but must extend their reach beyond the capital to serve audiences nationwide. The package includes £425 million for a Creative Foundations Fund, £160 million for local and regional museums, £230 million for heritage, and smaller allocations for libraries and national organizations. Meanwhile, Vienna will temporarily close several composer museums due to culture budget cuts, and Jean Cooney has been appointed executive director of Creative Time.

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Unionized staff at the Louvre Museum in Paris voted unanimously to continue a strike that began on Monday, with hundreds of workers walking out to protest deteriorating working conditions, insufficient staffing, and a proposed dual pricing system for non-EU visitors. The strike has forced partial closures, with the museum offering only a limited 'masterpiece route' featuring works like the Mona Lisa and Venus de Milo. Unions rejected a Culture Ministry offer to cancel a planned €5.7 million budget cut, recruit more staff, and raise pay, deeming the proposals insufficient. Workers also oppose a plan to raise ticket prices for non-EU visitors from €22 to €32 to fund renovations, and criticize the use of funds from a brand licensing deal with Abu Dhabi.

The Art Market Year in Review

The art market experienced a turbulent 2025, beginning with a 12% decline in sales from 2024, following a 3% drop in 2023, as reported by the Art Basel and UBS Global Art Market Report. Major auction houses Christie’s, Sotheby’s, and Phillips saw average sales fall 6% in the first half of the year. However, the market rebounded by autumn, with strong sales at London and Paris art fairs and a 15% year-on-year increase in auction sales at the three main houses by December, according to Pi-eX. Key events included Sotheby’s failed sale of Alberto Giacometti’s *Grand tête mince* in May, followed by a record-breaking $236 million sale of Gustav Klimt’s *Portrait of Elisabeth Lederer* in November, and a $31.4 million record for François-Xavier Lalanne’s *Hippopotame Bar*.

The Best Art Shows of 2025

A roundup of the best art shows of 2025 highlights standout exhibitions across New York galleries and museums. Notable shows include Reverend Joyce McDonald's first major exhibition at the Bronx Museum, Laura Owens' interactive takeover at Matthew Marks Gallery, and Harkawik's refrigerator-mounted photo display featuring 280 artists. Other featured shows include Maxwell Gallery's unsold works, Elisabeth Kley's curator-driven show at White Columns, Cady Noland's sculpture at Gagosian, and Falcon Art Collective's group show in an unfinished midtown building. The article also mentions Alannah Farrell's trans-themed work in Chinatown, Bradford's blue-field paintings at Canada gallery, and the reopening of institutions like the Frick Collection.

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A previously unaccounted-for self-portrait by 18th-century French artist Adélaïde Labille-Guiard sold at Tajan auction house in Paris for €843,800 ($988,785), far exceeding its estimate of €300,000–€500,000. After the hammer fell, a representative of the Palace of Versailles invoked France's droit de préemption law to claim the 1782 pastel work for the national collection, preventing its private sale.

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Sotheby's London has announced the full lineup for its Old Master and 19th century evening sale on December 3, featuring 31 works defined by exceptional scholarly significance and rare discoveries. Half of the lots have been hidden from public view for over a century, and 12 have not appeared on the secondary market in 40 years. Top lots include Hans Eworth's portrait of Thomas Howard (estimate £3 million), Pieter Brueghel the Younger's The Census at Bethlehem (£5 million), a rediscovered Peter Paul Rubens oil sketch (£3 million), and a Rembrandt portrait of Saint John on Patmos (£7 million). The sale also includes works from the collection of Dr Hinrich Bischoff, such as Lucas van Valckenborch's Autumn: Landscape with Archduke Matthias of Austria (£800,000).

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The estate of Jean-Michel Basquiat is releasing a new screenprint titled *King Alphonso*, available from Pace Prints starting November 5. Produced in an edition of 60, the print reproduces a 1982–83 drawing in acrylic and charcoal, referencing the Spanish monarch Alfonso XIII, known as “El Africano.” The work will be stamped and signed by Basquiat’s sisters, Lisane Basquiat and Jeanine Heriveaux, administrators of his estate. The announcement follows recent estate activities, including the 2022 “King Pleasure” exhibition in New York and the designation of Great Jones Street as “Jean-Michel Basquiat Way.”

architecture houses lost los angeles fires 2598556

A week after wildfires erupted across Los Angeles, the city remains under critical threat as the Pacific Palisades, Eaton, Hollywood Hills, and San Fernando Valley fires have forced the evacuation of roughly 200,000 residents, destroyed about 12,000 buildings, and claimed at least 24 lives. Among the losses are culturally and architecturally significant structures, including the Bunny Museum in Altadena, the historic Will Rogers ranch, the Altadena Community Church (designed by Harry L. Pierce), the Andrew McNally House (a Queen Anne-style mansion by Frederick Roehrig), Richard Neutra's Benedict and Nancy Freedman House, and Gregory Ain's Park Planned Homes in Altadena. Adrian Scott Fine of the Los Angeles Conservancy described the destruction as "a mass erasure of heritage."

The Art of Appearing

De l’art de paraître

The Musée Cognacq-Jay in Paris is hosting an exhibition titled "Révéler le féminin," which explores the intersection of 18th-century fashion and portraiture. Curated in collaboration with the Palais Galliera and the Musée d’arts de Nantes, the show features works by prominent portraitists like Élisabeth Louise Vigée Le Brun and Maurice Quentin de La Tour alongside rare period textiles. The exhibition examines how the rising bourgeoisie used clothing as a visual language of prestige and social standing during the Enlightenment.

Architectural Competition for Louvre ‘New Renaissance’ Project Reportedly Set to Relaunch in May

The international architectural competition for the Louvre Museum's $778 million 'New Renaissance' renovation project is set to relaunch in mid-May, according to a report in Le Figaro. The jury will convene on May 13 to assess proposals from five shortlisted firms, ending a period of uncertainty and delays caused by staff unrest, leadership upheaval following a major jewel theft, and the French municipal elections. The project, championed by President Emmanuel Macron, aims to modernize the museum and reduce overcrowding.

Art Collector and ‘Galerie’ Magazine Founder Lisa Fayne Cohen Fawned Over Jeffrey Epstein in Emails: ‘There Is No One Else Like You’

Newly released documents from the Justice Department's Epstein files reveal that New York art collector and Galerie magazine founder Lisa Fayne Cohen and her husband, real estate developer Jimmy Cohen, were in close contact with financier and convicted sex offender Jeffrey Epstein in 2015 and 2016. The emails show Cohen seeking Epstein's advice and arranging to photograph his Paris apartment for her magazine, which later featured the residence anonymously in its second issue.

november marquee auction sales midpoint analysis 1234762366

Christie's and Sotheby's November marquee auctions in New York generated a combined $1.4 billion, with Sotheby's achieving a record $706 million from a double-header sale. The highlight was Gustav Klimt's "Portrait of Elisabeth Lederer" (1914–16), sold for $236.4 million from the collection of late cosmetics heir Leonard Lauder, becoming the most expensive modern artwork ever sold at auction. Christie's Monday sale brought in $690 million, falling short of its $731.5 million high estimate but still marking a 42% increase over its equivalent sale last November.

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Sotheby's CEO Charles Stewart told CNBC that the art market has entered a new phase this fall, with supply finally catching up with demand after months of strong bidder activity. New York's marquee auction houses are preparing for sales expected to total more than $1.4 billion, a roughly 50% jump from last year, driven by major consignments including the estate of Leonard Lauder (55 works valued at over $400 million, led by Gustav Klimt's Portrait of Elisabeth Lederer) and collections from Jay and Cindy Pritzker. Christie's highlights include a Monet Nymphéas, a David Hockney portrait, and a Mark Rothko, each estimated at $40–60 million.

stretch of downtown manhattan renamed jean michel basquiat way 1234758099

A stretch of Great Jones Street in downtown Manhattan between Bowery and Lafayette has been officially renamed "Jean-Michel Basquiat Way" in a ceremony co-organized by the Basquiat estate and the New York City Council. The street naming honors the late artist, who lived and worked in a second-floor space at 57 Great Jones Street from 1983 until his death in 1988, a property he rented from Andy Warhol. The event featured remarks from Basquiat's sisters Lisane Basquiat and Jeanine Heriveaux, along with city officials and cultural figures.

sothebys leonard lauder contemporary by the numbers 2715607

Sotheby's held a marathon evening sale in New York on Tuesday night, achieving $706 million in total sales—the highest single-evening total in the auction house's history. The standout was the collection of Leonard A. Lauder, which alone brought $527.5 million, led by Gustav Klimt's *Portrait of Elisabeth Lederer* (1914-16) that sold for $236.4 million after a 20-minute bidding war. A second sale of contemporary and ultra-contemporary works added $178.5 million, with Jean-Michel Basquiat's *Crowns (Peso Neto)* (1981) topping that session at $48.3 million. Notably, no lots were withdrawn across both sales, and Asian collectors drove bidding on many high-value lots. Maurizio Cattelan's gold toilet *America* (2016) sold for $12.1 million, drawing only one bid.

11 can’t-miss art shows to see in Phoenix this spring

Phoenix is hosting a diverse array of spring art exhibitions across the city. Highlights include the 19th Annual Erotic Art Show at Exposed Gallery, Amy Menousek's feminist fiber work at Five15 Arts, Rachel Rinker's interactive sound and painting show at Tempe Center for the Arts, a group show of Japanese artists in Arizona at Shemer Art Center, and the "Art is History" exhibition at Lisa Sette Gallery, which critically examines art historical narratives.

Inside the 19th-century Parisian club that became a safe haven for female artists

Art historian Jennifer Dasal's new book "The Club" tells the story of the American Girls' Club, a Parisian safe haven founded in 1893 by Elisabeth Mills Reid at 4 Rue de Chevreuse in Montparnasse. The club provided affordable housing and meals for aspiring female American artists who faced obstacles their male counterparts did not, including societal pressure toward marriage, financial constraints, and safety concerns. Notable residents and participants included painters Anne Goldthwaite, Florence Lundborg, and sculptors Meta Vaux Warrick Fuller and Alice Morgan Wright, whose works and lives are chronicled in Dasal's account.