Sotheby’s opened its new Manhattan headquarters with a landmark $706 million evening sale, the highest total in the company’s history. The defining moment came with Gustav Klimt’s Portrait of Elisabeth Lederer, which rose to $236 million with fees after a prolonged bidding battle. Another important marker followed with the sale of a major Frida Kahlo canvas for $54.7 million, setting a new auction record for any female artist and reinforcing the renewed sense of momentum.
Taken together, the reports and the week’s results suggest that confidence is returning and that the market’s long-awaited shift may finally be underway. Read our editorial for more.
