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.
The results underscore the enduring strength of the high-end art market, with trophy works from blue-chip artists like Klimt, Matisse, and Munch commanding top prices. The sale also marks a significant milestone for Sotheby's, as it achieved its highest single-night auction total while operating from its new Breuer Building location, signaling a successful transition from the Whitney Museum's former home. The Klimt portrait's record price further cements the artist's market dominance and highlights the continued demand for rare, museum-quality works from prestigious collections.