The record for the most expensive painting sold in Europe has been broken by Klimt

The Woman with a Fan, Gustav Klimt, Oil painting 100x100 cm, (1917-1918)

A historic moment unfolded at Sotheby's London on Tuesday as the decisive strike of an auctioneer's gavel concluded a riveting 10-minute bidding war, establishing a new benchmark for the highest-priced artwork ever sold in Europe. Gustav Klimt's renowned masterpiece, "Lady with a Fan," secured a staggering £74 million in the sale, with the addition of a buyer's premium bringing the total to £85.3 million, equivalent to approximately $108.77 million. The 1918 painting, making its first appearance on the market in three decades, drew immense anticipation in the crowded auction room of The Modern and Contemporary Evening Auction, as noted in Sotheby's official press release. The artwork, discovered on Klimt's easel following his demise, captivates viewers with its enchanting portrayal of a nude figure and showcases the artist's exploration of a novel approach to color and form. It stands as a testament to Klimt's artistic brilliance, crafted during the pinnacle of his creative prowess.

Four clients engaged in a fierce bidding competition, with participants present in the room and others joining the fray via phone. Eventually, the painting was sold at a price surpassing the previous European auction record of $104.3 million set in 2010 by Alberto Giacometti's sculpture "Walking Man I". While this sale secured the title of Europe's most expensive painting, it stands as the second-highest price ever achieved for a portrait at an auction worldwide. The record remains held by Leonardo da Vinci's "Salvator Mundi," which fetched an astounding $450 million in 2017. However, lingering doubts about the true origins of the masterpiece persist among some art historians.