Excitement in New York’s Art Scene Over Leonard Lauder’s Collection

Even those who’ve seen it all in New York’s art world are buzzing about Leonard Lauder’s collection, set to go on auction next week.

Page Six reports there was a dinner on Friday night to celebrate the impending auction of this cosmetics mogul’s personal art pieces. It also marked the opening of Sotheby’s new location in the Breuer Building, which used to be home to the Whitney Museum of American Art.

The venue was evidently thrilled about the significance of this sale, particularly with three pieces from Gustav Klimt included.

“Klimt rarely appears on the market,” noted one attendee. “This isn’t your everyday situation,” they emphasized.

They also remarked on the impressive nature of Lauder’s collection, which had been displayed at the Whitney Museum from 1966 until 2014, pointing to Lauder’s commendable contributions to New York’s cultural landscape.

“Isn’t it kind of wild to be in the old Whitney space surrounded by such incredible art?” mused an insider.

“He was a great man of culture,” a source revealed. “His legacy is genuinely revered.”

Leonard Lauder, the son of Estée Lauder, ran the family company until 1999. He passed away in June at 92, with a net worth estimated around $10 billion, and was known for having one of America’s most significant art collections. He had previously donated his Cubist collection to the Metropolitan Museum of Art in 2013.

Among Klimt’s works, “Portrait of Elisabeth Lederer” is set to be auctioned on November 18, with estimates suggesting it could reach over $150 million.

The other two Klimt pieces are anticipated to fetch approximately $70 million and $80 million each. This marks the first time any of these artworks will be available on the open market.

The auction will also feature pieces from Van Gogh and Munch.

The entire collection is projected to yield nearly $500 million.