Portrait of Adele Bloch-Bauer I

Klimt Painting Sets Record

Eclipsing the record set in 2004 by a Pablo Picasso painting, Gustav Klimt's Portrait of Adele Bloch-Bauer I has sold for $135 million, the highest price ever paid for a painting. It was purchased by billionaire Ronald S. Lauder, the heir to the Estee Lauder fortune, and it will be displayed in his small, New York museum, the Neue Galerie. The painting was taken from the Bloch-Bauer's home in 1938 by Nazis and was sold by her niece, Maria Altmann, who has only had it since the beginning of this year, after looted artwork was returned to relatives of the original owners.