Klimt's 'Sultry Portrait' Breaks European Auction Record, Selling for £85.3m

Gustav Klimt's final portrait, "Dame mit Fächer (Lady with a Fan)" (1917), sold for a record-breaking £85.3m at Sotheby's Modern and contemporary art evening sale in London. The painting accounted for nearly half of the auction's total and surpassed the previous European auction record held by Alberto Giacometti's sculpture. The sultry portrait, depicting a woman with a slipping kimono, received significant attention from Asian bidders due to its Chinese and Japanese motifs. The sale also featured a themed sub-auction focusing on portraits, including works by Frank Auerbach. Despite some works selling below estimate, the auction was considered a strong affirmation of the market's strength.