Gustav Klimt's portrait of Elisabeth Lederer topped the list of the most expensive artworks sold at auction in 2025, achieving $236.3 million at Sotheby's New York on November 18—far exceeding its $150 million estimate and setting a new record for the artist. The painting came from the collection of the late Leonard Lauder, who died in June at age 92. Other top lots included two more Klimts from Lauder's collection, a newly offered Basquiat, and a record-setting Frida Kahlo work, alongside notable sales by van Gogh, Rothko, Mondrian, Monet, and Picasso, with many of the highest prices achieved during the blockbuster November auctions at Sotheby's and Christie's.
The list underscores the enduring strength of the ultra-high-end art market, where trophy works by modern masters continue to command extraordinary prices. The dominance of Klimt and the appearance of a rare Kahlo painting at auction highlight the premium placed on iconic, museum-quality pieces with impeccable provenance, especially those from celebrated collections like Lauder's. The results also demonstrate the continued concentration of major sales in New York's evening auctions, reinforcing the city's role as the global epicenter for top-tier art transactions.