Record broken at auction/ Gustav Klimt portrait sells for 204 million euros

A portrait painted by Gustav Klimt has been sold at auction for 204 million euros, breaking a record for a work of modern art.

Klimt's "Bildnis Elisabeth Lederer" (Portrait of Elisabeth Lederer) was sold after a 20-minute bidding war in New York, without the identity of the portrait's buyer being revealed.

The 1.8-meter-high portrait, painted between 1914 and 1916, depicts the daughter of one of Vienna's wealthiest families.

The painting depicts the luxurious life of the Lederer family before Nazi Germany annexed Austria in 1938.

The Nazis looted Lederer's art collection, leaving only the family portraits, which were considered "too Jewish" to steal, according to the National Gallery of Canada, where the painting was previously on loan. /CNA

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