Klimt‘s “Portrait of Elisabeth Lederer” Shatters Art World Records, Selling for $236 Million
A Gustav Klimt masterpiece, “Portrait of Elisabeth Lederer,” has sold for $236 million in a private sale, becoming the most expensive painting ever sold by the artist adn one of the highest prices ever paid for a work of art. The sale, confirmed this week, marks the culmination of decades of mystery surrounding the painting, which was looted by the Nazis and remained hidden from public view for generations.
The portrait’s journey from the collection of a wealthy Jewish family in Vienna to the hands of Estée Lauder heir Leonard A.Lauder, and now to an undisclosed buyer, underscores the complex intersection of art, history, and restitution. The record-breaking price reflects not only the painting’s artistic merit but also its poignant story of survival and recovery, as well as the enduring appeal of Klimt’s work. The sale follows Lauder’s death in June 2025 and signals a shift in ownership for a work long considered a jewel of the art world.
Seized by Nazi officials in 1938 after Austria’s annexation, the portrait resurfaced in the early 1980s and was acquired by Leonard A. Lauder. For decades, it remained largely out of the public eye, a hidden treasure within his private holdings.
Experts describe the painting as a prismatic exaltation of Elisabeth Lederer, the daughter of one of Vienna’s wealthiest Jewish families. Undertaken during the opening years of World War One, the work is seen as a final, glorious expression of Vienna’s Golden Age. The painting features East Asian-influenced motifs orbiting the subject against a celestial blue backdrop, and a striking use of color that anticipates the boldness of Expressionism.
The sale price surpasses Klimt’s previous record of $108.4 million for “Dame mit Fächer” (lady with a Fan), set in 2023. The identity of the buyer has not been revealed, but art market analysts anticipate the painting will eventually be displayed publicly, allowing a wider audience to appreciate its beauty and ancient importance.
