Nazi-confiscated Klimt sold for highest price ever paid for a painting

NYT: Lauder Pays $135 Million, a Record, for a Klimt
By CAROL VOGEL
Published: June 19, 2006


(Museum Associates/Agence France-Presse - Getty Images)
A detail from Gustav Klimt's 1907 portrait "Adele Bloch-Bauer I."

A dazzling gold-flecked 1907 portrait by Gustav Klimt has been purchased for the Neue Galerie in Manhattan by the cosmetics magnate Ronald S. Lauder for $135 million, the highest sum ever paid for a painting.

The portrait, of Adele Bloch-Bauer, the wife of a Jewish sugar industrialist and the hostess of a prominent Vienna salon, is considered one of the artist's masterpieces. For years, it was the focus of a restitution battle between the Austrian government and a niece of Mrs. Bloch-Bauer who argued that it was seized along with four other Klimt paintings by the Nazis during World War II. In January all five paintings were awarded to the niece, Maria Altmann, now 90, who lives in Los Angeles, and other family members.

Although confidentiality agreements surrounding the sale forbid Mr. Lauder to disclose the price, experts familiar with the negotiations, speaking on condition of anonymity, said he paid $135 million for the work. In a telephone interview Mr. Lauder did not deny that he had paid a record amount for the painting, eclipsing the $104.1 million paid for Picasso's 1905 "Boy With a Pipe (The Young Apprentice)" in an auction at Sotheby's in 2004.

"This is our Mona Lisa," said Mr. Lauder, a founder of the five-year-old Neue Galerie, a tiny museum at Fifth Avenue and 86th Street devoted entirely to German and Austrian fine and decorative arts. "It is a once-in-a-lifetime acquisition." He said Christie's had helped him negotiate the purchase.

For most of the last 60 years the portrait has hung in the Austrian Gallery in the Belvedere Palace in Vienna near "The Kiss," another gold-flecked Klimt masterpiece of the Art Nouveau era. With its sinuous lines and intricate details, the painting, "Adele Bloch-Bauer I," was commissioned by the subject's husband, Ferdinand Bloch-Bauer. Mrs. Bloch-Bauer died of meningitis in 1925 at 43. In her will she requested that the painting and four others by Klimt that the couple owned be left to Austria upon her husband's death. But when Germany annexed Austria in March 1938, Mr. Bloch-Bauer fled, leaving all of his possessions behind. The Nazi government confiscated his property, placed three of the paintings in the Austrian Gallery and sold the rest....

http://www.nytimes.com/2006/06/19/arts/design/19klim.html?hp&ex=1150689600&en=daf50a1f5c42ff0a&ei=5094&partner=homepage

what a beautiful work of art.

:wow: