Neue Galerie Auctions Schieles to Pay for $135 Million Klimt
Oct. 30 -- Neue Galerie New York, a German and Austrian art museum founded by the cosmetics mogul Ronald S. Lauder and the art dealer Serge Sabarsky, is selling three artworks at auction to help pay for its recent record-breaking acquisition of Gustav Klimt's "Adele Bloch-Bauer I.''
On Nov. 8 at Christie's New York, the museum will offer two watercolors and an oil painting by Austrian artist Egon Schiele, estimated to fetch as much as $45 million total.
"There are three works by Egon Schiele that are being sold by the Neue Galerie with the approval of our board,'' said the museum's deputy director, Scott Gutterman, reading a statement over the phone, "to facilitate the recent purchase of 'Adele Bloch-Bauer I.'''
Auction funds will be applied toward the cost of the museum's new, gold-encrusted Klimt, which Lauder dubbed the "Mona Lisa'' of German and Austrian art. The price was not confirmed, but a $135 million figure appeared in articles attributed to anonymous sources. It was reported to be the highest price ever paid for an artwork.
Selling or "deaccessioning'' artwork by a museum is widely considered acceptable only if the resulting funds are used to purchase art that would improve an institution's collection.
The Klimt was sold by the family who had recently won it -- and four other Klimt paintings, also being auctioned on Nov. 8 at Christie's New York -- following a protracted Holocaust restitution lawsuit against the Austrian government.
Works Recently Shown
The three Schieles were included in an Egon Schiele exhibition held at the Neue Galerie from October 2005 to February 2006. "Egon Schiele: The Ronald S. Lauder and Serge Sabarsky Collections'' drew from just those two sources. The three works now on offer were identified in the show's catalog only as belonging to a private collection.
The Neue Galerie is not mentioned as the seller of the Schieles in the Christie's catalog.
The 1915 oil painting titled "Einzelne Hauser (Hauser mit Bergen)'' is the most expensive of the group, estimated to sell for as much as $30 million. Christie's auction catalog identifies the location of the landscape as Krumau, the artist's mother's hometown in the Czech Republic. The artist lived there briefly, and was unpopular for his bohemian lifestyle. He didn't attend church, lived with his lover and was suspected of painting local girls in the nude.
The current auction record for Schiele was set in June at Christie's London, where a 1914 still life of flowers sold for $21.8 million to an anonymous buyer.
The Neue Galerie artworks are just a small part of Christie's Nov. 8 Impressionist and Modern art auction. The evening portion of the sale is expected to fetch as much as $488 million. The current record for an auction is held by Sotheby's New York with a $286 million total realized in May 1990.
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