Gustav Klimt’s Portrait of Elisabeth Lederer became the world’s most valuable work of modern art at auction. Its $236.4 million price also made it the second most expensive artwork auctioned overall.
The portrait by the Austrian pioneer of symbolism and art nouveau was painted between 1914 and 1916, and depicted a young Jewish Viennese society woman; it was confiscated by the Nazis after the Austrian Anschluss. The record price is a rare bright spot for the high-end art market, which is struggling with lack of demand and few big-ticket lots, ARTnews reported.
Another stroke of luck for Sotheby’s: Frida Kahlo’s El sueño (La cama) is expected to set a new record Thursday for the most expensive artwork made by a woman.