• Home
  • Contact
  • Submit a News Release
Monday, September 25, 2023
  • Login
No Result
View All Result
NEWSLETTER
Mainland Times — Breaking Continental European News
  • Climate
  • Business
  • Economy
  • Europe
  • Health
  • Education
  • Society
  • Sport
  • World
  • Climate
  • Business
  • Economy
  • Europe
  • Health
  • Education
  • Society
  • Sport
  • World
No Result
View All Result
Mainland Times — Breaking Continental European News
No Result
View All Result
Home Economy

European Auction Record Set by Gustav Klimt Painting, Sold for $108 Million

Alice Trout by Alice Trout
06/28/2023
in Economy, Europe
European Auction Record Set by Gustav Klimt Painting, Sold for $108 Million
12
VIEWS

A remarkable painting by Austrian artist Gustav Klimt, titled “Dame mit Fächer” (Lady with a Fan), has fetched a staggering £85.3 million ($108.4 million) at auction, setting a new European record for the highest-priced artwork ever sold. The masterpiece was sold on Tuesday at Sotheby’s in London after an intense 10-minute bidding war, with a hammer price of £74 million ($94.35 million). The final figure includes a buyer’s premium charge on top of the sale price.

The sale price greatly surpassed the initial estimate of £65 million ($80 million) and surpassed the previous European auction record of $104.3 million (£65 million at the time), which was achieved by Alberto Giacometti’s sculpture “Walking Man I” at Sotheby’s in 2010. Prior to this, the most expensive painting sold at a European auction was Claude Monet’s “Le Bassin aux Nymphéas,” which fetched $80.4 million at a Christie’s sale in 2008.

“Dame mit Fächer” is the last portrait completed by Gustav Klimt before his death in 1918. The painting portrays an unidentified woman against a captivating backdrop influenced by Chinese art, featuring dragons and lotus blossoms. It was last sold in 1994 for $11.6 million at an auction in New York.

Sotheby’s revealed that the buyer of the painting was art adviser Patti Wong, acting on behalf of a collector from Hong Kong. The auction house described the atmosphere during the auction as rare and noted the ten-minute bidding battle among four clients on the phone and in the room.

With his bold and daring art nouveau style, Gustav Klimt was a prominent figure in artistic modernism at the turn of the 20th century. His works have consistently commanded high prices, and his painting “Portrait of Adele Bloch-Bauer II” sold for $87.9 million in 2006, while “Birch Forest” sold for $104.6 million at Christie’s in New York last year. It is also reported that two other Klimt portraits have been sold privately for over $100 million.

Although the overall record for an artwork sold at auction is held by Leonardo da Vinci’s “Salvator Mundi,” which fetched $450.3 million in 2017, some experts have questioned the extent of the Renaissance master’s involvement in the painting of Jesus Christ.

Recommended

House of lies. Romanian taxpayers lured with fiscal discount for tax compliance will not receive their bonuses

House of lies. Romanian taxpayers lured with fiscal discount for tax compliance will not receive their bonuses

2 years ago
EU introduces cod fishing ban in eastern Baltic

EU introduces cod fishing ban in eastern Baltic

2 years ago

Popular News

  • Who is behind the digital extortion network of financial brokers?

    Who is behind the digital extortion network of financial brokers?

    0 shares
    Share 0 Tweet 0
  • Zoom POD for Sterile Field Clot Capture: Interview with Daniel Davis of Imperative Care

    0 shares
    Share 0 Tweet 0
  • Studying in Georgia as an International Student

    0 shares
    Share 0 Tweet 0
  • Mikhal Ashminov: Making pierogi and bigos (and much else) big in Seoul

    0 shares
    Share 0 Tweet 0
  • Polish radio group bought by companies linked to George Soros

    0 shares
    Share 0 Tweet 0

Newsletter

Subscribe and receive the latest news to your email.

SUBSCRIBE

Category

  • Business
  • Climate
  • Economy
  • Education
  • Europe
  • Health
  • Latest
  • Society
  • Sport
  • World

Site Links

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

About Us

Mainland Times is an independent online outlet that publishes socially relevant news taking place on the European continent. Mainland Times aggregates news from several sources, and also provides coverage through a network of local correspondents.

  • Home
  • Contact
  • Submit a News Release

© 2021 All rights reserved.

No Result
View All Result
  • Home
  • Europe
  • Economy
  • Health
  • Climate
  • Climate
  • Business
  • Sport
  • Education
  • Society
  • World

© 2021 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In