In a historic moment for the art world, the late-life masterpiece by iconic Austrian artist Gustav Klimt, titled “Dame mit Fächer” or “Lady with a Fan,” has been sold at Sotheby’s in London for an astounding $108.4 million. This sale sets a new record for the most expensive artwork ever auctioned in Europe, adding another remarkable chapter to Klimt’s legacy.
After an intense bidding war that spanned a thrilling 10 minutes, the painting was eventually acquired by a buyer present in the room. When the hammer fell, the final price reached a staggering 74 million pounds ($94.35 million). However, it’s worth noting that this amount includes the buyer’s premium, which is a charge imposed on top of the sale price.
This exceptional sale price far exceeded the initial estimate of 65 million pounds ($80 million), demonstrating the immense value and allure of Klimt’s masterpiece. It also surpasses the previous European auction record set by Alberto Giacometti’s sculpture “Walking Man I,” which sold for 65 million pounds ($104.3 million) at Sotheby’s in 2010. In fact, the most expensive painting ever auctioned in Europe prior to this was Claude Monet’s “Le bassin aux nymphéas,” which fetched $80.4 million at a Christie’s sale in 2008.
Notably, “Lady with a Fan” represents the final portrait completed by Gustav Klimt before his passing in 1918. The painting showcases an unidentified woman set against a magnificent backdrop inspired by Chinese art, adorned with dragons and lotus blossoms. This remarkable piece has a rich history, having last been sold at an auction in New York in 1994 for $11.6 million.
Sotheby’s revealed that the buyer of this iconic masterpiece is Patti Wong, an esteemed art adviser acting on behalf of a collector based in Hong Kong. Klimt, renowned for his bold and daring art nouveau paintings, played a pivotal role in artistic modernism during the early 20th century. His works consistently command some of the highest prices in the art market. For instance, his renowned “Portrait of Adele Bloch-Bauer II” fetched an astonishing $87.9 million at a New York auction in 2006, while his landscape painting “Birch Forest” sold for an impressive $104.6 million at Christie’s in New York last year.
Moreover, it’s worth mentioning that two more of Klimt’s portraits have reportedly been sold privately for over $100 million each, further solidifying his status as a highly coveted artist. Although the world auction record stands at an astonishing $450.3 million, paid in 2017 for Leonardo da Vinci’s “Salvator Mundi,” there is ongoing debate among experts regarding whether the painting of Jesus Christ is entirely the work of the Renaissance master.
Gustav Klimt’s “Lady with a Fan” represents not only a remarkable investment for the buyer but also a significant addition to the art world’s legacy. With its resplendent beauty and historical significance, this masterpiece continues to secure Klimt’s position as one of the most revered artists of all time.
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