The iconic work of art titled ‘Lady with a Fan’, created by Austrian artist Gustav Klimt, was sold at a Sotheby’s auction in London on Tuesday for a staggering £85.3 million (equivalent to $108.4 million), AP reported. The price set a new record in Europe, surpassing the mark set in 2010 by Alberto Giacometti’s ‘Walking Man I’ sculpture, which sold for $104.3 million.
Klimt’s painting was acquired after a brief auction process that lasted approximately 10 minutes and fetched £74 million (equivalent to $94.35 million). It should be noted that this final amount includes a buyer’s premium, which is an additional charge applied at auctions.
Previously, the work was estimated to be worth around $80 million, but demand and collector interest drove the price to an even higher figure at auction.
Klimt’s painting, which portrays an enigmatic woman with a fan, is considered one of his most iconic works and represents his signature style, characterized by the use of ornate patterns and intricate details. The sale of this masterpiece not only sets a new record in Europe but also highlights the continued relevance and value of Klimt’s art in the international market.
The auction of “Lady with a Fan” has captured the attention of the art world and demonstrates the enduring appeal of classic masterpieces as well as the willingness of collectors to invest large sums of money to secure these unique and valuable pieces of artistic history.