By Ireti Asemota.
Sotheby’s kicked off its fall sales with a bang in the freshly minted Breuer Building HQ on NYC’s Museum Mile Tuesday night, smashing records and signaling a hot streak for modern masterpieces amid a sluggish market. Leading the charge: Gustav Klimt’s ethereal “Portrait of Elisabeth Lederer” (1914–16), which ignited a 20-minute frenzy among six bidders to hammer at $205M ($236.4M with fees)—crowning it the priciest modern artwork ever auctioned, Sotheby’s all-time top seller, and the second-most expensive artwork period (behind da Vinci’s $450M “Salvator Mundi” in 2017). The six-foot-tall stunner, depicting the teenage daughter of Klimt’s patrons in a flowing Chinese dragon robe amid swirling motifs, dodged Nazi looting and a WWII castle blaze that torched 100+ Klimts—making it a “last chance” gem, per auctioneer Oliver Barker.
Leonard Lauder’s Legacy: $527.5M Haul from the Estée Lauder Heir’s Trove
The portrait anchored a white-glove (100% sold) showcase of 24 lots from the late Leonard A. Lauder (d. June 2025), whose eye for Cubism and modernism netted $527.5M—blasting past the $400M pre-sale whisper. Standouts:
- Another Klimt: “Forest Slope in Unterach on the Attersee” (1917) at $74.3M ($86M w/ fees)—his third-highest ever.
- Edvard Munch’s “Self-Portrait with Cigarette” (1895) at $30.4M ($35.1M w/ fees).
- Van Gogh’s ink “The Sower in a Wheat Field at Sunset” (1888) smashed records for pen-and-ink at $9.7M ($11.2M w/ fees).
- Agnes Martin’s “The Garden” (1964) hit $15.2M ($17.6M w/ fees), a new high for her.
The opener, Alexander Calder’s “Untitled” sculpture (1940s), tripled estimates at $780K ($889K w/ fees). More Lauder lots (31 total) drop Wednesday daytime, eyeing $1B+ overall for the week.
Contemporary Curveball: Basquiat Soars, But Marshall & Hendricks Flop
The follow-up “The Now” contemporary sale tallied $178.5M, led by Jean-Michel Basquiat’s massive “Untitled (Skull)” (1981) at $42M ($48.3M w/ fees). But stumbles hit: Kerry James Marshall’s “Untitled (Painter)” passed unsold (est. $20–30M), as did Barkley L. Hendricks’ “Blood (Donald Formey)” ($12–18M)—rare whiffs in a night of mostly hits.
The Golden Dud: Cattelan’s “America” Toilet Flushes for $12.1M
In a cheeky twist, Maurizio Cattelan’s 223-lb, 18-karat gold “America” (2016)—a flushable satire on wealth inequality—drew just one bidder at its gold-tied $10M start, landing at $10.5M ($12.1M w/ fees) to a “famous American brand.” Installed as a working loo at Sotheby’s pre-sale (no sittings, though), it nods to Duchamp’s “Fountain” while mocking commodity fever—Cattelan: “Rich or poor, the end result’s the same.” (Its Guggenheim twin was infamously stolen in 2019; this edition’s been private since 2017, possibly from Mets owner Steve Cohen.)
Market Mood: Sotheby’s $706M Night vs. Broader Blues
The double-header raked $706M—Sotheby’s single-night record, doubling last year’s haul—bucking a two-year slump (global art sales down per UBS/Art Basel report). Christie’s countered Monday with $690M (up from ’24), topped by Rothko’s $62M abstraction. Phillips and more Sotheby’s lots loom—aiming $1B+ total.
From Klimt’s golden glow to Cattelan’s shiny satire, it’s a tale of triumphs and tepid takes. Art’s resilient—or just for the ultra-elite? What’s your wildest auction dream? Spill below. 🎨💰 #KlimtRecord #GoldToilet #SothebysBreuer
