Gustav Klimt Portrait of Elisabeth Lederer was undoubtedly the highlight of the evening, not only because of the estimated value of 150 million US dollars (excluding buyer’s premium) estimated by Sotheby’s in advance. A trophy for which the auction house had taken the risk of a guaranteed proceeds regardless of how the auction went. It should pay off. As well as 23 other works of art that went under the hammer at the start of the evening sales in New York on Tuesday. They were all recently housed in the collection of Leonard Lauder, the businessman, art patron and older brother of Ronald Lauder, who died in June.
