Sotheby's held a marathon double sale at its new Breuer Building location, selling Gustav Klimt's portrait of Elisabeth Lederer for $236.4 million—the second highest price ever paid for an artwork at auction. The evening included works from the collection of the late cosmetics heir Leonard Lauder, totaling $527.5 million, far exceeding its low estimate. The subsequent 'Contemporary and the Now' sale added $178.5 million, bringing the overall total to $706 million. Other highlights included a Jean-Michel Basquiat painting selling for $48.3 million, auction records for Cecily Brown, Antonio Obá, Yu Nishimura, Jess, and Noah Davis, and the sale of Maurizio Cattelan's gold toilet 'America' for $12.1 million.
The results signal a bright moment in an art market that has been shaky over the past two years, demonstrating strong demand for top-tier works from prestigious collections. The Lauder sale's white-glove performance (every lot sold) and the multiple records set underscore the resilience of the high-end market, even as some high-value contemporary works failed to sell. The evening also highlighted the growing influence of Asian buyers, with Sotheby's Asia deputy chairman winning the Basquiat for an Asia-based client.