Lauder's $400M art collection hits auction block

Leonard Lauder's exceptional art collection, valued at $400 million, is commanding attention at auction. A highlight is Gustav Klimt's rare 'Portrait of Elisabeth Lederer,' with an estimated value exceeding $150 million, one of only two such full-length portraits remaining in private hands. Lauder, who passed away at 92, was not only a cosmetics heir but a significant philanthropist.

Lauder's lifelong passion for collecting spanned from Art Deco postcards to priceless paintings. He was instrumental in acquiring works for the Whitney Museum of American Art, where he served as chairman, and donated his extensive Cubist collection to the Metropolitan Museum of Art. His curation was guided by a pursuit of excellence, embodied by his philosophy to "only buy the best."

The auction at Sotheby's features 55 works, including other Klimt masterpieces, Matisse bronzes, and an Edvard Munch. These pieces, survivors of historical turmoil, represent Lauder's commitment to preservation and beauty. The sale offers a rare glimpse into a legendary collector's legacy, with pieces expected to draw international interest despite a recent art market downturn.