Gustav Klimt has shattered art-market history once again. The Austrian modernist's Portrait of Elisabeth Lederer sold for an extraordinary $236.4 million at Sotheby's on Tuesday night, setting a new record as the most expensive modern artwork ever sold at auction. The staggering figure also makes it the second-most-valuable artwork ever to cross an auction block.
The sale, already expected to be one of the biggest art moments of the decade, came from the private collection of the late Leonard Lauder, the cosmetics heir, philanthropist and major force behind some of America's most influential museums. His collection, long whispered about as one of the finest still in private hands, drew global attention as it was unveiled for public viewing earlier this month.
