A painting that helped save the life of its Jewish subject during the Holocaust has become the most expensive piece of modern art and the second most expensive painting ever sold at auction.
The Portrait of Elisabeth Lederer, by Austrian artist Gustav Klimt, was bought for $236.4m (£180m) by an unnamed buyer after a 20-minute bidding war at Sotheby’s in New York on Tuesday.
Its sale price beat the previous record for 20th-century art set by Andy Warhol’s Shot Sage Blue Marilyn, a portrait of Marilyn Monroe bought for $195m (£148m) in 2022.
Shot Sage Blue Marilyn by Andy Warhol. Pic: Associated Press
The most expensive painting ever sold at auction was Leonardo da Vinci’s Salvator Mundi, which fetched $450m (£342m) in 2017, Christie’s said on its website.
The auction house said on X the price was “astonishing”, making the piece “the most valuable work of modern art ever sold at auction”.
The portrait, which Klimt worked on between 1914 and 1916, depicts the daughter of one of Vienna’s wealthiest families wearing an East Asian emperor’s cloak.
Evaded fire and Nazi looters
Measuring 1.8m (6ft), the colourful piece, which was completed in 1916, illustrates the Lederer family’s life of luxury before Nazi Germany annexed Austria in 1938.
It was kept separate from other Klimt paintings that burned in a fire at an Austrian castle.
It also escaped being looted by the Nazis, who plundered the Lederer art collection.
They left only the family portraits, which they held to be “too Jewish” to be worth stealing, according to the National Gallery of Canada, where the painting was previously on loan.
Father lie saved her life
To save her own life, Elisabeth Lederer made up a story that Klimt, who was not Jewish and died in 1918, was her father.
It helped that the artist spent years working meticulously on her portrait.
She convinced the Nazis to give her a document stating that she descended from Klimt, which allowed her to live safely in Vienna until her death from illness in 1944.
The painting, which is one of two full-length portraits by the Austrian artist that remain privately owned, was part of the collection of billionaire Leonard A Lauder, heir to the Estée Lauder cosmetics empire, who died this year.
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Five Klimt pieces from Lauder’s collection sold at the auction for a total of $392m (£298m), which also included pieces by Vincent van Gogh, Henri Matisse and Edvard Munch, Sotheby’s said.
An 18-carat-gold toilet by Maurizio Cattelan – the provocative Italian artist known for taping a banana to a wall – sold for a reported $12.1m (£9.2m).
The fully-functioning toilet, one of two he created in 2016 satirising superwealth, was stolen while on display at Blenheim Palace, the country manor where Winston Churchill was born, in 2019.
Two men were convicted of the theft, but it’s unclear what they did with the loo.
Investigators believe it was likely broken up and melted down.
