Sotheby's Shattered Records at Its Breuer Debut as a $236.4M Klimt Leads the $706M Evening Sale
A stunning start to the week for art lovers and collectors, Sotheby's made history with its debut in the new Breuer building, shattering records left and right. The evening sale, which kicked off on November 18, saw Gustav Klimt's towering masterpiece "Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer)" take center stage, dominating headlines and leaving a trail of record-breaking prices in its wake.
The painting, created between 1914-16, sold for a staggering $236.4 million, surpassing expectations and becoming both the most valuable work by Klimt and the most valuable work ever sold in Sotheby's Modern category. The sale also broke the previous record held by Picasso's "Les Femmes d'Alger (Version O)," which sold at Christie's New York in 2015 for $179.4 million.
Klimt's portrait was not the only highlight of the evening, with two additional works from the artist's estate achieving impressive prices. The landscape "Blumenwiese (Blooming Meadow)" (c. 1908) sold for $86 million, while the still life "Waldabhang bei Unterach am Attersee (Forest Slope in Unterach on the Attersee)" (1916) fetched $68.3 million.
The evening sale also saw strong demand for works by Maurizio Cattelan, with his iconic 18-karat golden toilet sculpture "America" selling for a record-breaking $12.1 million. The work, which was sold to an Asian client on the phone, was part of a string of record prices that highlighted the vibrant market for contemporary and living artists.
Other notable sales included Jean-Michel Basquiat's 1981 "Crowns (Peso Neto)," which exceeded even its ambitious $35-45 million estimate, selling for $48.3 million to an Asian client on the phone. The work was fresh to market and reportedly consigned by French collector Francis Lombrail.
The evening sale also saw impressive prices for works by Cecily Brown, Peter Doig, and Hirst, among others. The total sales figure for the evening exceeded $706 million, surpassing Sotheby's presale expectations of $379.2-412.5 million, making it one of the highest totals ever generated in a single evening by Sotheby's.
The extraordinary result was hailed as "art market history" by Sotheby's CEO Charles F. Stewart, who noted that this fitting inauguration for the auction house's new building was made possible by the vision and generosity of Leonard A. Lauder's collection. The event marked a significant milestone in Sotheby's debut at the Breuer building, cementing its reputation as a leading player in the art market.
As the baton passes to Christie's for their 21st Century Evening Sale, featuring works from the Edlis | Neeson Collection, collectors and enthusiasts alike are eagerly anticipating what other record-breaking prices will be achieved. With Sotheby's impressive debut under the Breuer building's new roof, it is clear that this sale will go down in history as one of the most extraordinary auctions of the year.
A stunning start to the week for art lovers and collectors, Sotheby's made history with its debut in the new Breuer building, shattering records left and right. The evening sale, which kicked off on November 18, saw Gustav Klimt's towering masterpiece "Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer)" take center stage, dominating headlines and leaving a trail of record-breaking prices in its wake.
The painting, created between 1914-16, sold for a staggering $236.4 million, surpassing expectations and becoming both the most valuable work by Klimt and the most valuable work ever sold in Sotheby's Modern category. The sale also broke the previous record held by Picasso's "Les Femmes d'Alger (Version O)," which sold at Christie's New York in 2015 for $179.4 million.
Klimt's portrait was not the only highlight of the evening, with two additional works from the artist's estate achieving impressive prices. The landscape "Blumenwiese (Blooming Meadow)" (c. 1908) sold for $86 million, while the still life "Waldabhang bei Unterach am Attersee (Forest Slope in Unterach on the Attersee)" (1916) fetched $68.3 million.
The evening sale also saw strong demand for works by Maurizio Cattelan, with his iconic 18-karat golden toilet sculpture "America" selling for a record-breaking $12.1 million. The work, which was sold to an Asian client on the phone, was part of a string of record prices that highlighted the vibrant market for contemporary and living artists.
Other notable sales included Jean-Michel Basquiat's 1981 "Crowns (Peso Neto)," which exceeded even its ambitious $35-45 million estimate, selling for $48.3 million to an Asian client on the phone. The work was fresh to market and reportedly consigned by French collector Francis Lombrail.
The evening sale also saw impressive prices for works by Cecily Brown, Peter Doig, and Hirst, among others. The total sales figure for the evening exceeded $706 million, surpassing Sotheby's presale expectations of $379.2-412.5 million, making it one of the highest totals ever generated in a single evening by Sotheby's.
The extraordinary result was hailed as "art market history" by Sotheby's CEO Charles F. Stewart, who noted that this fitting inauguration for the auction house's new building was made possible by the vision and generosity of Leonard A. Lauder's collection. The event marked a significant milestone in Sotheby's debut at the Breuer building, cementing its reputation as a leading player in the art market.
As the baton passes to Christie's for their 21st Century Evening Sale, featuring works from the Edlis | Neeson Collection, collectors and enthusiasts alike are eagerly anticipating what other record-breaking prices will be achieved. With Sotheby's impressive debut under the Breuer building's new roof, it is clear that this sale will go down in history as one of the most extraordinary auctions of the year.
It smashed records left and right and I think its crazy how much people are willing to pay for art these days. I mean, 48.3 million dollars for a Jean-Michel Basquiat? That's wild 
anyways, i'm not surprised that Lauder's collection made this possible he's always been known for his art investments 
they're talkin' $706m for a single evening sale that's insane! klimt's portrait sold for like $236m which is crazy, and the rest of the artworks were equally impressive 
! 236.4 million for Klimt's painting is insane 
and Jean-Michel Basquiat's "Crowns" sold for like 48 mil?! 
. can't wait for Christie's next sale to see what all the fuss is about 
. I'm not surprised to see Asian collectors leading the charge - it's been clear for a while now that they're driving the art market forward 
. And let's be real, $48.3 million for Basquiat's "Crowns" is just amazing - the market is clearly hungry for these kinds of prices 
. Bring on Christie's next sale!
. And what's with all these records being broken left and right? In my day, we were lucky if our favorite artist was selling out concerts 
. These auction houses are making a killing off collectors who just want to show off their wealth 
. Anyway, I'm both impressed and bewildered by Sotheby's debut sale 
.
but I've heard before that artists are so overpriced and that money could be better spent on actual people 
did he really sell for less than this one piece? 
also what's up with all these wealthy collectors calling in from their phones like they're shopping at Harrods over Zoom 
. Sotheby's new Breuer building is off 2 a flying start and I'm hyped 2 see what the rest of the art season has in store! 
like what even is the market for art anymore? 
or is it all just speculation at this point? 
and its dope to see women like Cecily Brown and Hirst getting in on the action too 
gotta love a good museum space 
and sotheby's killing it with this debut sale 
the way he used gold in that painting is just wow 
what do u think about contemporary art tho? like cattelan's golden toilet is lit 
706 million dollars is just insane