Yesterday Sotheby's New York delivered one of its most significant auction evenings in recent years, realising a combined total of $706 million across the Evening Sale of the Leonard A. Lauder Collection and the "Now & Contemporary" Art Evening Auction. And the activity doesn't stop here Sotheby's continues with further auctions today and tomorrow. The night brought together early-20th-century and contemporary works, resulting in a series of headline-making moments.
Klimt Leads With a Historic Result
The defining moment of the night came with Gustav Klimt's Portrait of Elisabeth Lederer, achieving $236.4 million. This places the painting as the most valuable modern artwork ever sold at auction, and the second most expensive artwork ever sold in auction history. Painted in 1917 and long believed to have been lost, its escape from wartime looting adds an extra dimension of historical weight to an already extraordinary result.
Cattelan's Gold Toilet Commands Global Attention
Another standout moment came from Maurizio Cattelan's 'America' the fully functioning, 18-karat solid gold toilet, which realised $12.1 million. Beyond its conceptual brilliance, America carries a remarkable history. The work was famously stolen in 2019 from Blenheim Palace, triggering international headlines and an investigation. Its return to market not only reignited global conversation, but reaffirmed its position as one of the most culturally charged artworks of the decade.
Basquiat: A Contemporary High-Point
The evening's momentum extended further with Jean-Michel Basquiat's Crowns (Peso Neto) (1981), which sold for $48.34 million , significantly above its estimate of $35-45 million. This vibrant, early work by Basquiat, debuting at auction, underscores the enduring demand for artists who defined the last half-century. The result reinforces how works anchored in both historical moment and visual power continue to command engagement and premium value.
A Confident Showing Across the Art World
The evening delivered meaningful activity across the contemporary category, contributing to the strong $706 million total and reinforcing collectors' appetite for works that define the last half-century. From Klimt's luminous portraiture to Cattelan's provocative conceptual commentary, the night captured the full breadth of what continues to drive today's collectors. Sotheby's results showed that when art of exceptional calibre, narrative and visibility comes to market, the response is immediate and decisive.
