Get Your Fresh Intelligence Daily

SUBMIT

Ron Lauder's Artful Lender

Oct. 27 2008, Published 7:07 a.m. ET

Link to FacebookShare to TwitterShare to Email

LET'S MAKE A DEAL! Klimt's "Portrait of Adele Bloch-Bauer I." Even billionaire cosmetics heir Ron Lauder needed a loan to buy the world's priciest painting. In June, the renowned collector paid a reported $135 million for Gustav Klimt's "Portrait of Adele Bloch-Bauer I." Art world sources say Christie's helped finance the acquisition (slated for Lauder's Neue Galerie museum in Manhattan) in exchange for a promise from Lauder to unload several coveted Egon Schiele paintings from his private collection at the auction houses's November 8 sale. In addition to its standard 20 percent commission, Christie's is said to have factored in the priceless PR the sales are sure to garner.

Article continues below advertisement
Advertisement

© Copyright 2021 Radar Media Group LLC. Radar and RadarOnline are registered trademarks. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.