Gustav Klimt's Bildnis Elisabeth Lederer painting sold for more than $236 million, becoming the second-most-expensive work of art to be auctioned, behind Leonardo da Vinci's Salvator Mundi.

When Leonard A. Lauder, the visionary beauty-industry executive, philanthropist, and art collector passed away in June, questions arose about the fate of his extraordinary art collection. The answer arrived earlier this fall when Sotheby’s New York announced that it would present a landmark sale of works from his private holdings on November 18 at the auction house’s new home at the Breuer on Madison Avenue.