Gustav Klimt's 'Lady with a Fan' to Lead Sotheby's London Auction with £65M Estimate

Sotheby's has unveiled Gustav Klimt's 'Dame mit Fächer' (Lady with a Fan) as a highlight of its Modern & Contemporary Evening Auction in London on June 27, 2023. The portrait, one of Klimt's last works and still in private hands, carries an estimate of £65 million, among the highest ever for a painting in Europe. Painted in 1917-1918, it remained in Klimt's studio at his death in February 1918. Unlike many of his commissions, this work was created freely, without a client. The square format, unusual for Klimt, signals his experimental phase. Asian influences are evident: Chinese motifs like the phoenix (immortality) and lotus flowers (fidelity), and a flat background recalling Japanese prints. Sotheby's notes that if it sells for its estimate, it would tie the European auction record set by Alberto Giacometti's 'Walking Man I' at Sotheby's London in 2010 for £65 million. The Asian market, particularly Japanese collectors, has shown strong interest in Klimt; 'Insel im Attersee' sold at Sotheby's in May 2023 for $53.2 million to a Japanese buyer. Klimt's works have also surpassed $100 million, as seen in the Allen collection sale.