Story perspectives

Klimt Auction Set to Shatter Records with $150M Portrait

11/12/2025

Summary

Story summary

An auction featuring three Gustav Klimt paintings from Leonard Lauder's collection will take place on November 18.
The "Portrait of Elisabeth Lederer," completed between 1914 and 1916, is expected to sell for over $150 million, potentially setting a record for the artist.
This six-foot-tall portrait, which survived Nazi looting, was rarely removed from Lauder's New York home before his passing in June.
Sotheby’s anticipates total sales from the auction will exceed $400 million.

History

Historical Context

The Nazi regime began looting art in 1933, targeting Jewish collectors and modernist works deemed "degenerate." This extensive theft, which included masterpieces by artists like Gustav Klimt, is considered the largest art heist in history. Today, auctions of these recovered pieces, such as Leonard Lauder's "Portrait of Elisabeth Lederer," highlight ongoing efforts for art restitution and the cultural significance of reclaiming lost heritage.

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Story summary

An auction featuring three Gustav Klimt paintings from Leonard Lauder's collection will take place on November 18.
The "Portrait of Elisabeth Lederer," completed between 1914 and 1916, is expected to sell for over $150 million, potentially setting a record for the artist.
This six-foot-tall portrait, which survived Nazi looting, was rarely removed from Lauder's New York home before his passing in June.
Sotheby’s anticipates total sales from the auction will exceed $400 million.

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