Famous Painting Sold for Big Money

A portrait by Austrian artist Gustav Klimt has set a new record in the art world. The painting, titled 'Portrait of Elisabeth Lederer', was sold for an astonishing $236.4 million at an auction in New York. This makes it the second most expensive artwork ever sold at auction.

The painting has a fascinating history. Created between 1914 and 1916, it was later stolen by the Nazis during World War II. Fortunately, it survived a fire and was rescued in 1948. The artwork then changed hands several times before ending up in the collection of Estée Lauder heir Leonard A Lauder.

The auction itself was intense, with six bidders competing for 20 minutes. The identity of the winning bidder remains a mystery. This sale has far exceeded expectations, as the painting was initially predicted to sell for around $150 million.