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gustav klimt portrait failed auction sale fraulein lieser 1234740370

The sale of Gustav Klimt's *Portrait of Fräulein Lieser* (1917), which fetched €35 million ($37.51 million) at im Kinsky in Vienna in 2024, has collapsed after the anonymous Hong Kong buyer withdrew. The buyer had attempted to negotiate indemnification settlements with all known heirs of Adolf and Henriette Lieser for 60% of the sale proceeds, but one heir refused to sign, causing the deal to fall through. The auction house now faces estimated losses of at least €1.5 million ($1.7 million).

trending_up market schedule May 15, 2025 visibility 4 link 6 artists, 1 gallery

Failed auction of $70M bronze bust stuns Sotheby’s bidders into silence

Sotheby's high-stakes Modern evening sale on Tuesday night ended in shock when Alberto Giacometti's bronze bust "Grand tête mince (Grand tête de Diego)," estimated at $70 million, failed to sell. Bidding stalled at $64.25 million, well below the reserve, and auctioneer Oliver Barker withdrew the lot. The consignment came from the Soloviev Foundation, the nonprofit arm of the late real estate mogul Sheldon Solow, who had declined an auction guarantee. The sale ultimately brought in only $152 million, far short of the $240 million low estimate, with the Giacometti representing nearly 30% of that target.

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