$236M Portrait Sale Ignites a Roaring Art Market Comeback

Cheddar News

Gustav Klimt’s Portrait of Elisabeth Lederer sold for $236.4 million at Sotheby’s, becoming the auction house’s most expensive work ever and the second-most exp

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00:00This off clip's portrait of Elizabeth Lederer sold for $236.4 million at Sotheby's,

00:06becoming the auction house's most expensive work ever and the second most expensive painting sold at auction.

00:12The sale drew intense bidding from at least six parties before going to an anonymous buyer,

00:17signaling renewed strength in the high-end art market.

00:20With major collections hitting the block and total sales expected to exceed $1.4 billion this week,

00:26auction houses report rising optimism among collectors.

00:29Other standout sales included Maurizio Catalan's Solid Gold Toilet America for $12.1 million

00:36and additional Klimt works from the Leonard Leder collection, reaching tens of millions.

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