A painting by Gustav Klimt, instrumental in saving its Jewish subject’s life during the Holocaust, was auctioned for $236.4 million US at Sotheby’s in New York City, setting a new record for a modern artwork. The Portrait of Elisabeth Lederer, one of only two full-length portraits by Klimt in private ownership that survived World War II, was the highlight of the auction, surpassing all previous sales by the fine art broker.
The auction also featured a remarkable item – a fully functional solid gold toilet that fetched $12.1 million. This unique piece, created by Maurizio Cattelan, known for his provocative art, was a satirical take on the extravagance of the ultra-rich. Weighing 101 kilograms and made of 18-karat gold, the toilet, titled “America,” started with a bid of around $10 million US.
The Klimt painting, completed between 1914 and 1916, portrays Elisabeth Lederer, the daughter of a prominent Viennese family, draped in an East Asian emperor’s attire. It was carefully preserved and kept separate from other Klimt artworks that were lost in a fire at an Austrian castle. The portrait reflects the opulent lifestyle of the Lederer family before Austria was annexed by Nazi Germany in 1938.
During the Nazi looting of art collections, Elisabeth Lederer, to protect herself, falsely claimed that Klimt, who had passed away before the war and was not Jewish, was her father. With the support of her former brother-in-law, a high-ranking Nazi official, she obtained documentation stating her relation to Klimt. The painting was part of billionaire Leonard A. Lauder’s collection, who passed away earlier this year.
The buyer of the portrait remains undisclosed by Sotheby’s. This sale surpassed the previous record for 20th-century art set by an Andy Warhol portrait of Marilyn Monroe, sold for $195 million in 2022.
In addition to the portrait, the auction showcased Cattelan’s gold toilet, emphasizing the intersection of art and wealth. The toilet, named “America,” was exhibited at Sotheby’s headquarters before the auction. Maurizio Cattelan, the artist, described it as a commentary on the universal nature of bodily functions regardless of one’s economic status. The sale of the toilet marked another milestone in the art world, reflecting the ongoing dialogue on the value of artistic creations in the market.
