Auctions

Leonard Lauder’s $400 Million Collection Is Headed to Auction

Hosted by Sotheby’s this fall, the sale will include three masterpieces by Gustav Klimt including Portrait of Elisabeth Lederer and six iconic sculptures by Henri Matisse

By Alexandria Sillo

September 16, 2025

Painting of a woman in a detailed dress, surrounded by colorful figures, with intricate patterns in the background. — Gustav Kilmt *Portät der Elisabeth Lederer (Portrait of Elisabeth Lederer)* . Photo: Courtesy of Sotheby's

Sotheby’s has announced an upcoming auction featuring the collection of Leonard A. Lauder, the pioneering cosmetics industry leader, philanthropist, and patron of the arts. The sale, to be hosted on November 18, will feature three masterpieces by Gustav Klimt, including Portrait of Elisabeth Lederer, which alone is expected to fetch over $150 million. The sale will also launch Sotheby’s new headquarters inside the historic Breuer Building.

“A towering figure in the worlds of art, philanthropy and business, Leonard A. Lauder will long be remembered as an extraordinary art patron with a passion for collecting across artistic periods, mediums, and genres, and for transforming the Whitney and Metropolitan Museums with his vision and generosity,” says Charles F. Stewart, Sotheby’s Chief Executive Officer. “We are honored to be entrusted with his exceptional collection, which will captivate collectors worldwide.”

Elderly man in a suit and tie with a red pocket square, smiling against a dark gray background. — Leonard A Lauder. Photo: The Estée Lauder Companies Inc

Colorful meadow with wildflowers and lush green trees under a bright sky, evoking a peaceful and serene landscape. — Gustav Klimt, *Blumenwiese (Blooming Meadow)*. Photo: Courtesy of Sotheby’s

Colorful landscape painting of a town by a lake, with trees and hills in the background. — Gustav Klimt, *Waldhag bei Unterach am Attersee (Forest Slope in Unterach on the Attersee)*. Photo: Courtesy of Sotheby’s

In addition to the portrait of Elizabeth Lederer, the sale—expected to achieve over $400 million—includes two never-before-offered landscape paintings of Attersee by Kilmt, six sculptures by Henri Matisse, and additional works by Picasso, Agnes Martin, and more. “Leonard Lauder’s legacy as a patron and collector is deeply intertwined with the history of postwar American art,” says Lisa Dennison, Sotheby’s Chairman Americas. “His steadfast support of the Whitney Museum of American Art is echoed in the emphasis on the great American artists of the 1960s in the collection. Led by Agnes Martin’s rare and sensational ‘The Garden’ from 1964, and featuring exceptional works by Kenneth Noland, Robert Rauschenberg, Claes Oldenburg, and Alexander Calder, Lauder’s collection showcases the triumph of American artists in this critical era of art history.”

seated bronze sculpture of a woman resting arm on a square block, with a contemplative expression — Henri Matisse, *Figure décorative*. Photo: Courtesy of Sotheby’s

Bronze sculpture of a reclining female figure on a textured rectangular base. — Henri Matisse, *Nu Couché I (Aurore).* Photo: Courtesy of Sotheby’s

Bronze sculpture of a standing figure leaning against a tall slender block, resembling a contemplative pose. — Henri Matisse, *La Serpentine*. Photo: Courtesy of Sotheby’s

Leonard died in June at age 92, and was remembered for his contributions to medical research, including the Alzheimer’s Drug Discovery Foundation which he co-founded with his brother and his efforts in fundraising for breast cancer. His philanthropy extended to his beloved New York City, and to the arts, with his donation of 78 pieces of Cubist art to The Metropolitan Museum of Art remaining one of the most impactful.