Gustav Klimt painting becomes second most expensive artwork sold at auction

A Gustav Klimt portrait, looted by Nazis and almost destroyed in WWII before being rescued, was sold for $236.4m at auction, becoming the second most expensive artwork ever sold. The Portrait of Elisabeth Lederer, painted between 1914-1916, saw a 20-minute bidding battle. The painting depicts Lederer, an heiress and daughter of Klimt's patron, in a white robe against an Asian tapestry, and was previously in the collection of Estée Lauder heir Leonard A Lauder.