Record price for Nazi-looted Klimt

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.

From tomorrow's NY Times. Further richly deserved payback for Austria, whose representatives' intransigence left them with nothing rather than all. Previous posts here and here.

Posted by David on June 18, 2006 11:38 PM