Gustav Klimt's final portrait, 'Dame mit Fächer (Lady With a Fan),' sold for £85.3 million ($108.4 million) at Sotheby's London, setting a new record for the most expensive work of art ever auctioned in Europe. The painting, which was still on Klimt's easel when he died in 1918, surpassed its pre-sale estimate of over £65 million after a ten-minute bidding war.
The sale is a significant barometer of the high-end art market's strength, particularly demand from Asian collectors. It establishes a new auction record for Klimt, exceeding the previous mark set just months earlier, and reinforces Sotheby's position in the competitive market for ultra-high-value masterpieces. The result highlights the enduring and escalating value placed on iconic works by major modern artists.