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 featured 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 brought in $178.5 million, with a Jean-Michel Basquiat painting selling for $48.3 million. Overall, the night generated $706 million, with multiple auction records set for artists including Cecily Brown, Antonio Obá, Yu Nishimura, Jess, and Noah Davis.
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 portion achieved a white-glove sale (every lot sold), while the contemporary sale saw some high-value works fail to sell, indicating a selective market. The sale also highlighted the growing influence of Asian buyers, as Sotheby's Asia deputy chairman Jen Hua secured the Basquiat for an Asia-based client.