A painting by Gustav Klimt, instrumental in saving the life of its Jewish subject during the Holocaust, was auctioned for a record-breaking $236.4 million, including fees, setting a new benchmark for modern art pieces. The Portrait of Elisabeth Lederer, a masterpiece by Klimt, was sold at Sotheby’s in New York City following a spirited 20-minute bidding war, marking it as the most expensive artwork ever sold by the fine art broker. Notably, another highlight of the auction was a fully functional solid gold toilet that fetched $12.1 million.
This Klimt painting, one of only two full-length portraits by the Austrian artist in private hands that survived World War II intact, was completed over a three-year period from 1914 to 1916. The portrait portrays Elisabeth Lederer, the daughter of a prominent Viennese family, draped in an emperor’s cloak inspired by East Asian aesthetics. Unlike other Klimt paintings lost in a fire at an Austrian castle, this artwork was meticulously preserved, showcasing the opulence of the Lederer family before the Nazi annexation of Austria in 1938.
Following the annexation, the Nazis plundered the Lederer art collection, sparing only the family portraits due to their perceived Jewish association. In a bid to protect herself, Elisabeth Lederer concocted a story claiming Klimt, who was non-Jewish and deceased by 1918, as her father. Leveraging her connection with a former Nazi relative, she managed to secure a document from the Nazis affirming her fictitious lineage to Klimt.
Previously owned by billionaire Leonard A. Lauder, heir to The Estée Lauder Companies, the painting’s buyer remains undisclosed by Sotheby’s. This sale eclipsed the previous record set in 2022 for 20th-century art, held by an Andy Warhol portrait of Marilyn Monroe sold for $195 million.
In the same auction, a satirical solid gold toilet titled “America” by Maurizio Cattelan, known for his provocative artworks, fetched $12.1 million. Weighing 101 kilograms and crafted from 18-karat gold, the toilet offered a critical commentary on extreme wealth, according to Cattelan. Sotheby’s described the piece as a sharp critique on the intersection of artistic creation and commercial value.
Notably, Cattelan had previously created another similar toilet, one of which was exhibited at the Guggenheim Museum in New York. This specific toilet, displayed at Sotheby’s auction, had been previously owned by an unidentified collector. The whereabouts of a previously stolen Cattelan toilet remain unknown, with speculations suggesting it might have been dismantled and melted down.
Prior to the auction, “America” was on display at Sotheby’s New York headquarters, attracting attention for its unique and thought-provoking design.