Klimt’s “Lady with a Fan” Shatters Records, Selling for Over $108 Million and Claiming Title as Europe’s Most Expensive Painting

In a historic auction at Sotheby’s London, Gustav Klimt’s renowned painting “Lady with a Fan” sold for a staggering 85.3 million pounds (approximately $108.77 million), setting a new record as the most expensive work of art ever sold in Europe. This 1918 masterpiece by the Austrian painter had not been on the market for 30 years, creating a sense of anticipation in the crowded sale room at The Modern and Contemporary Evening Auction. The bidding battle lasted for 10 minutes before the auctioneer’s hammer declared a winner.

Klimt’s “Lady with a Fan” is a captivating depiction of a nude figure that showcases the artist’s exploration of a new approach to color and form. It was discovered on his easel after his death, further adding to its allure and making it a true masterpiece of his artistic prowess, according to Sotheby’s.

This record-breaking sale was the result of a bidding showdown involving four clients, both present in the room and participating remotely. The final price surpassed the previous European auction record set in 2010 for Alberto Giacometti’s sculpture “Walking Man I,” which sold for $104.3 million. The Associated Press reported the details of this intense battle for Klimt’s masterpiece.

Although this sale achieved the second-highest price ever for a portrait at an auction worldwide, Leonardo da Vinci’s “Salvator Mundi” still holds the title for the most expensive painting sold, having fetched $450 million in 2017. However, some art historians have raised doubts about the origins of the masterpiece.

Helena Newman, the auctioneer and chairman of Sotheby’s Europe, expressed her admiration for Klimt’s masterpiece, describing it as a testament to his artistic genius. She commented on the high level of enthusiasm and the heated pursuit of the painting during the auction in London. Newman felt honored to be part of this historic moment as she brought down the hammer on a work that has created auction history.