Klimt painting sets European record with $108m price tag

A late-life masterpiece by Austrian artist Gustav Klimt has sold for 85.3 million pounds ($108.4m), making it the most expensive artwork ever auctioned in Europe.

Dame mit Fächer (Lady with a Fan) was sold on Tuesday to a buyer in the room at Sotheby’s in London after a 10-minute bidding war for a hammer price of 74 million pounds ($94.35m). The higher final figure includes a charge on top of the sale price known as the buyer’s premium.

The sale price well exceeded the presale estimate of 65 million pounds ($80m). It also beat the previous European auction record of $104.3m – 65 million pounds at the time – including buyer’s premium, which was paid for Alberto Giacometti’s sculpture Walking Man I at Sotheby’s in 2010.

Load More