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As Klimt Painting Sells for $59 Million, Auction Houses Cross Their Fingers

Mar 02, 2017 - The New York Times

LONDON — An exuberant Gustav Klimt garden scene sold at Sotheby’s on Wednesday night for about $59 million with fees, the third-highest price for any artwork sold at auction in Europe.

Selling for 48 million pounds after a valuation of at least £35 million, the painting was fought over by four telephone bidders, reflecting newly energized demand for works by the great names of 20th-century art.

“This was a momentous night for the art market,” the auctioneer, Helena Newman, c...