The art market of New York had a historic night on Tuesday that it has not seen for years, and the credit goes to Gustav Klimt’s Portrait of Elisabeth Lederer, which sold for $236.4 million. Becoming the most expensive modern artwork ever auctioned, it has broken all the records of Sotheby’s worldwide.<h2>About the auction</h2>This 1914–1916 portrait is one of the few Klimt works that is still intact after going through World War II. The bidding is on for 20 minutes among at least six collectors. Oliver Barker was the auctioneer who presided over the exchange in a packed room at Sotheby’s new Breuer Building headquarters.&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/lifestyle/kate-middleton-delivers-her-first-public-speech-in-2-years-urges-companies-to-support-early-childhood-1763530891411">Kate Middleton delivers her first public speech in 2 years, urges companies to support early childhood</a>&nbsp;Reportedly, the final price for the portrait was beyond the auction house’s estimate of “in excess of $150 million,” and also above Klimt’s previous record of $108.8 million set in 2023.&nbsp;Expressing her emotions about the painting, Lisa Dennison, Sotheby’s chair of the Americas, said, "This was truly a once-in-a-lifetime painting. The depth of bidding proved that collectors recognised the exceptional rarity and provenance."&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/lifestyle/who-were-the-kessler-twins-germany-s-dance-legends-die-together-at-89-by-assisted-suicide-1763485238966">Who were Kessler Twins? Germany’s dance legends, die at 89 by assisted suicide</a><h2>The story of Gustav Klimt’s Portrait</h2>If you are wondering the reason for the extraordinary price, let's dive into the story of the masterpiece. It's the portrait of Elisabeth Lederer, the daughter of August and Serena Lederer. They were prominent Jewish patrons who formed one of Klimt’s most important support networks.&nbsp;During the Nazi era, this family was targeted, due to which several of their Klimt works were ruined in a fire in an Austrian castle. Luckily, Elisabeth’s portrait was stored elsewhere, so it survived. After the war, it was returned to the family, and since then, it has passed through popular collectors, including art dealer Serge Sabarsky. Before Tuesday, it was with billionaire Leonard A. Lauder, whose estate offered it at the auction.&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/lifestyle/what-is-indoor-pollution-and-how-can-it-worsen-your-asthma-1762945329260">What is indoor pollution, and how can it worsen your Asthma?</a>&nbsp;The portrait showcases Elisabeth in a flowing white dress surrounded by East Asian-inspired motifs. She sits immortalised in Viennese cultural life, just before Klimt died in 1918. Years later, she had a tragic decline under Nazi persecution.&nbsp;The Klimt was among the 24 works from the late Lauder’s distinguished collection that gained attention across New York. The total sales of the arts brought in $527.5 million collectively. Several pieces went beyond the estimate, including a Claes Oldenburg Clothespin sculpture. It got $2.1 million after being valued at up to $800,000.&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/lifestyle/anuv-jainv-first-ever-world-tour-announced-check-concert-dates-tickets-and-more-details-1763457622321">Anuv Jain first-ever world tour - Check concert dates, tickets and more details</a>&nbsp;Philip Hoffman, Fine Art Group, said, “This shows that trophy works still command enormous global appetite. The Lauder provenance elevated everything on sale.”<h2>Solid Gold Toilet also grabbed the attention</h2>Not just Gustav Klimt’s Portrait of Elisabeth Lederer, but there was another centre of attraction at the auction, Maurizio Cattelan’s notorious 18-karat solid gold toilet. Titled America, it fetched $12.1 million. This fully functional, 223-pound artwork was built as a satire of excess, a message from the artist, "Whatever you eat… the results are the same, toilet-wise."&nbsp;The piece was first exhibited at the Guggenheim Museum and was once offered to President Donald Trump in place of a Van Gogh painting. The Gold Toilet had been owned by an unnamed collector and drew a single bid above its $10 million opening.&nbsp;Over 25,000 people visited Sotheby’s during the pre-auction exhibition, and the record-breaking sale made the moment memorable forever.

On Tuesday, the New York art market witnessed a historic event that will be remembered forever. Gustav Klimt’s Portrait of Elisabeth Lederer sold $236.4 million, breaking all records. Read on to know more.

The art market of New York had a historic night on Tuesday that it has not seen for years, and the credit goes to Gustav Klimt’s Portrait of Elisabeth Lederer, which sold for $236.4 million. Becoming the most expensive modern artwork ever auctioned, it has broken all the records of Sotheby’s worldwide. About the auction This 1914–1916 portrait is one of the few Klimt works that is still intact after going through World War II. The bidding is on for 20 minutes among at least six collectors. Oliver Barker was the auctioneer who presided over the exchange in a packed room at Sotheby’s new Breuer Building headquarters. Also Read: Kate Middleton delivers her first public speech in 2 years, urges companies to support early childhood Reportedly, the final price for the portrait was beyond the auction house’s estimate of “in excess of $150 million,” and also above Klimt’s previous record of $108.8 million set in 2023. Expressing her emotions about the painting, Lisa Dennison, Sotheby’s chair of the Americas, said, "This was truly a once-in-a-lifetime painting. The depth of bidding proved that collectors recognised the exceptional rarity and provenance." Also Read: Who were Kessler Twins? Germany’s dance legends, die at 89 by assisted suicide The story of Gustav Klimt’s Portrait If you are wondering the reason for the extraordinary price, let's dive into the story of the masterpiece. It's the portrait of Elisabeth Lederer, the daughter of August and Serena Lederer. They were prominent Jewish patrons who formed one of Klimt’s most important support networks. During the Nazi era, this family was targeted, due to which several of their Klimt works were ruined in a fire in an Austrian castle. Luckily, Elisabeth’s portrait was stored elsewhere, so it survived. After the war, it was returned to the family, and since then, it has passed through popular collectors, including art dealer Serge Sabarsky. Before Tuesday, it was with billionaire Leonard A. Lauder, whose estate offered it at the auction. Also Read: What is indoor pollution, and how can it worsen your Asthma? The portrait showcases Elisabeth in a flowing white dress surrounded by East Asian-inspired motifs. She sits immortalised in Viennese cultural life, just before Klimt died in 1918. Years later, she had a tragic decline under Nazi persecution. The Klimt was among the 24 works from the late Lauder’s distinguished collection that gained attention across New York. The total sales of the arts brought in $527.5 million collectively. Several pieces went beyond the estimate, including a Claes Oldenburg Clothespin sculpture. It got $2.1 million after being valued at up to $800,000. Also Read: Anuv Jain first-ever world tour - Check concert dates, tickets and more details Philip Hoffman, Fine Art Group, said, “This shows that trophy works still command enormous global appetite. The Lauder provenance elevated everything on sale.” Solid Gold Toilet also grabbed the attention Not just Gustav Klimt’s Portrait of Elisabeth Lederer, but there was another centre of attraction at the auction, Maurizio Cattelan’s notorious 18-karat solid gold toilet. Titled America, it fetched $12.1 million. This fully functional, 223-pound artwork was built as a satire of excess, a message from the artist, "Whatever you eat… the results are the same, toilet-wise." The piece was first exhibited at the Guggenheim Museum and was once offered to President Donald Trump in place of a Van Gogh painting. The Gold Toilet had been owned by an unnamed collector and drew a single bid above its $10 million opening. Over 25,000 people visited Sotheby’s during the pre-auction exhibition, and the record-breaking sale made the moment memorable forever.

On Tuesday, the New York art market witnessed a historic event that will be remembered forever. Gustav Klimt’s Portrait of Elisabeth Lederer sold $236.4 million, breaking all records. Read on to know more.

Gustav Klimt painting sells for $236 million at NY auction, what's the story of the record-breaking Portrait

A painting by Austrian artist Gustav Klimt which was thought to be lost for nearly a century has been found and is now heading for an auction in Vienna. The portrait, one of Klimt’s last works, had disappeared from public view after a 1925 exhibition.

<h2>About the recently found portrait</h2>

Klimt’s Portrait of Fräulein Lieser was created in 1917 and according to the im Kinsky auction house, for many decades, the painting which it has described as a “sensation” was privately owned by an anonymous Austrian citizen.&nbsp;

Prior to 1925, the Portrait of Fräulein Lieser belonged to a Jewish family in Austria, but its fate is unclear as the family of the current owners have had the painting since the 1960s.

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Austrian artist Gustav Klimt's Portrait of Fräulein Lieser&nbsp;(Photo credit: im Kinsky)

“A painting of such rarity, artistic significance and value has not been available on the art market in Central Europe for decades,” said im Kinsky in a statement.&nbsp;

The recently rediscovered painting is expected to fetch more than $54 million, said the Austria-based auction house.&nbsp;

The portrait depicts a young member of the Lieser family which belonged to the circle of wealthy, upper-class Viennese society. The family also included Adolf and Justus Lieser, leading industrialists in the Austro-Hungarian Empire.

However, the identity of the younger member of the Lieser family depicted in the portrait has been unclear.&nbsp;

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The oeuvre catalogues of Klimt’s paintings suggest that Adolf commissioned Klimt to paint a portrait of his 18-year-old daughter Margarethe Constance. However, there is some evidence that suggests he was commissioned by Lilly Lieser to immortalise one of her two daughters in paintings.&nbsp;&nbsp; &nbsp;

<h2>Auction in April</h2>

In a statement, im Kinsky said that the portrait will be put on auction on April 24, 2024, on behalf of the current owners along with the legal successors of Adolf and Henriette Lieser.&nbsp;

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The auction will be based on a deal in accordance with the Washington Principles of 1998, an international agreement to return Nazi-looted art to the descendants of the people they were taken from.

However, before the painting is put up for auction, it will be presented in several other locations including Switzerland, Germany, Hong Kong, and the United Kingdom, said the Austrian auction house.&nbsp;

(With inputs from agencies)

A painting by Austrian artist Gustav Klimt which was thought to be lost for nearly a century has been found and is now heading for an auction in Vienna. The portrait, one of Klimt’s last works, had disappeared from public view after a 1925 exhibition.

A painting by Austrian artist Gustav Klimt which was thought to be lost for nearly a century has been found and is now heading for an auction in Vienna. The portrait, one of Klimt’s last works, had disappeared from public view after a 1925 exhibition. About the recently found portrait Klimt’s Portrait of Fräulein Lieser was created in 1917 and according to the im Kinsky auction house, for many decades, the painting which it has described as a “sensation” was privately owned by an anonymous Austrian citizen. Prior to 1925, the Portrait of Fräulein Lieser belonged to a Jewish family in Austria, but its fate is unclear as the family of the current owners have had the painting since the 1960s. Austrian artist Gustav Klimt's Portrait of Fräulein Lieser (Photo credit: im Kinsky) “A painting of such rarity, artistic significance and value has not been available on the art market in Central Europe for decades,” said im Kinsky in a statement. The recently rediscovered painting is expected to fetch more than $54 million, said the Austria-based auction house. The portrait depicts a young member of the Lieser family which belonged to the circle of wealthy, upper-class Viennese society. The family also included Adolf and Justus Lieser, leading industrialists in the Austro-Hungarian Empire. However, the identity of the younger member of the Lieser family depicted in the portrait has been unclear. ALSO READ | Tunnel found by archeologists looking for Cleopatra's tomb is a 'geometric miracle' The oeuvre catalogues of Klimt’s paintings suggest that Adolf commissioned Klimt to paint a portrait of his 18-year-old daughter Margarethe Constance. However, there is some evidence that suggests he was commissioned by Lilly Lieser to immortalise one of her two daughters in paintings. Auction in April In a statement, im Kinsky said that the portrait will be put on auction on April 24, 2024, on behalf of the current owners along with the legal successors of Adolf and Henriette Lieser. ALSO READ | 'Don't eat fried toothpicks': South Korea warns citizens against weird social media trend The auction will be based on a deal in accordance with the Washington Principles of 1998, an international agreement to return Nazi-looted art to the descendants of the people they were taken from. However, before the painting is put up for auction, it will be presented in several other locations including Switzerland, Germany, Hong Kong, and the United Kingdom, said the Austrian auction house. (With inputs from agencies)

Gustav Klimt portrait found after nearly 100 years could fetch $54 million at auction

It has been become common for climate activists to target works of art as a show of protest and a similar incident took place in the Austrian capital of Vienna on Tuesday. A group of Austrian and German climate activists called the “Last Generation” poured a black liquid over well-known artist Gustav Klimt’s painting "Death and Life" at Vienna's Leopold Museum, according to the authorities.

"Restorers are working to determine whether the painting protected by glass has been damaged," spokesperson for the museum Klaus Pokorny told the media according to AFP.

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The protestors entered the museum in several groups and shouted slogans after pouring the liquid on the painting. "Stop fossil destruction. We're racing towards climate hell," one of them shouted.

The authorities described the liquid thrown on the painting as “black and oily” before it was sent for further investigation. The two people who carried out the attack were arrested by a museum employee and the authorities said that the painting was not damaged in the process.

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This was the latest in the line of attacks carried out by climate activists in various parts of the world including museums like the Guggenheim in New York, Louvre in Paris and Uffizi in Florence.

In the past, climate activists threw mashed potatoes on a Monet painting while another group threw soup at Vincent van Gogh paintings in London and Rome. In Madrid, two activists glued themselves to a Francisco Goya painting in Madrid and shouted slogans pertaining to climate issues.

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It has been become common for climate activists to target works of art as a show of protest and a similar incident took place in the Austrian capital of Vienna on Tuesday.

It has been become common for climate activists to target works of art as a show of protest and a similar incident took place in the Austrian capital of Vienna on Tuesday. A group of Austrian and German climate activists called the “Last Generation” poured a black liquid over well-known artist Gustav Klimt’s painting "Death and Life" at Vienna's Leopold Museum, according to the authorities. "Restorers are working to determine whether the painting protected by glass has been damaged," spokesperson for the museum Klaus Pokorny told the media according to AFP. Also read | Pacific Ocean island nation to build country on metaverse as climate change threatens existence The protestors entered the museum in several groups and shouted slogans after pouring the liquid on the painting. "Stop fossil destruction. We're racing towards climate hell," one of them shouted. The authorities described the liquid thrown on the painting as “black and oily” before it was sent for further investigation. The two people who carried out the attack were arrested by a museum employee and the authorities said that the painting was not damaged in the process. Also read | China's latest COVID-19 lockdowns spark protests in in Guangzhou - WATCH This was the latest in the line of attacks carried out by climate activists in various parts of the world including museums like the Guggenheim in New York, Louvre in Paris and Uffizi in Florence. In the past, climate activists threw mashed potatoes on a Monet painting while another group threw soup at Vincent van Gogh paintings in London and Rome. In Madrid, two activists glued themselves to a Francisco Goya painting in Madrid and shouted slogans pertaining to climate issues.

Protesters pour black liquid on Gustav Klimt painting in Vienna museum

French Culture Minister Roselyne Bachelot has announced that the country&nbsp;will return a masterpiece by&nbsp;Gustav&nbsp;Klimt&nbsp;to the heirs of its owner, more than 80 years after she was forced to sell it in the Nazi era.

'Rosiers sous les Arbres'&nbsp;or 'Rose Bushes Under Trees', painted by the Austrian artist around 1904-05, will be returned to the family of Holocaust victim Nora Stiasny, who&nbsp;had to sell the painting&nbsp;at a knockdown price to survive financially after the Nazis annexed Austria in 1938.

The art dealer, a Nazi sympathiser, held on to it until his death and France, unaware of its history, eventually bought it at auction for its Musee d'Orsay museum in 1980, the minister added.

"The restoration of looted items is an ardent obligation. It is the honour of the Republic to do so, the honour of France," she said.&nbsp;

The painting was bought in 1911 by Stiasny's uncle, a Jewish Austrian collector named Viktor Zuckerkandl.&nbsp;

She was forced to sell it very cheap shortly after the Nazis came to power in Austria in 1938 at a time when Jewish families were being frozen out of the economy.&nbsp;

It was bought by Stiasny's former lover, Philipp Haeusler, who had joined the Nazi party and managed to hide his past after the war.

Stiasny died in 1942 along with her husband and son. It is not clear whether they were in the Polish ghetto of Izbica or the Belzec concentration camp.&nbsp;

France acquired 'Rose Bushes Under Trees'&nbsp;from a Swiss gallery in 1980 for its soon-to-open Musee d'Orsay in Paris, knowing nothing of its violent history.&nbsp;

"The decision we've taken is obviously difficult. It means removing a master-work from the national collection that is the only painting by Gustav Klimt that France owns," said Bachelot.&nbsp;

"But I'm not heartbroken over it, quite the contrary."

She added that it had been a challenging process due to the destruction of evidence and the erosion of family memories.&nbsp;

The work will go to the descendants of Stiasny's sister, Hermine Mueller-Hofmann, who managed to escape the Holocaust.

French Culture Minister Roselyne Bachelot has announced that the country will return a masterpiece by Gustav Klimt to the heirs of its owner, more than 80 years after she was forced to sell it in the Nazi era.

French Culture Minister Roselyne Bachelot has announced that the country will return a masterpiece by Gustav Klimt to the heirs of its owner, more than 80 years after she was forced to sell it in the Nazi era. 'Rosiers sous les Arbres' or 'Rose Bushes Under Trees', painted by the Austrian artist around 1904-05, will be returned to the family of Holocaust victim Nora Stiasny, who had to sell the painting at a knockdown price to survive financially after the Nazis annexed Austria in 1938. The art dealer, a Nazi sympathiser, held on to it until his death and France, unaware of its history, eventually bought it at auction for its Musee d'Orsay museum in 1980, the minister added. "The restoration of looted items is an ardent obligation. It is the honour of the Republic to do so, the honour of France," she said. The painting was bought in 1911 by Stiasny's uncle, a Jewish Austrian collector named Viktor Zuckerkandl. She was forced to sell it very cheap shortly after the Nazis came to power in Austria in 1938 at a time when Jewish families were being frozen out of the economy. It was bought by Stiasny's former lover, Philipp Haeusler, who had joined the Nazi party and managed to hide his past after the war. Stiasny died in 1942 along with her husband and son. It is not clear whether they were in the Polish ghetto of Izbica or the Belzec concentration camp. France acquired 'Rose Bushes Under Trees' from a Swiss gallery in 1980 for its soon-to-open Musee d'Orsay in Paris, knowing nothing of its violent history. "The decision we've taken is obviously difficult. It means removing a master-work from the national collection that is the only painting by Gustav Klimt that France owns," said Bachelot. "But I'm not heartbroken over it, quite the contrary." She added that it had been a challenging process due to the destruction of evidence and the erosion of family memories. The work will go to the descendants of Stiasny's sister, Hermine Mueller-Hofmann, who managed to escape the Holocaust.

France to return Klimt painting looted by Nazis to Holocaust victim

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Gustav Klimt painting sells for $236 million at NY auction, what's the story of the record-breaking Portrait

Gustav Klimt portrait found after nearly 100 years could fetch $54 million at auction

Protesters pour black liquid on Gustav Klimt painting in Vienna museum

France to return Klimt painting looted by Nazis to Holocaust victim