Leonard Lauder, who died in June at the age of 92, made his mark not only as a cosmetics magnate and philanthropist but also as one of the past half-century’s preeminent art collectors. In his later years, he disseminated many of his prized possessions, most famously gifting 90 landmark works of Cubism—said to be the greatest such trove in private hands, worth $1 billion—to the Metropolitan Museum of Art. But he didn’t part with all his treasures; some will be up for grabs November 18, when Sotheby’s mounts a single-owner evening sale of 24 lots, with another 31 going on the block the next day, for a total expected take of more than $400 million. The star of the night: Klimt’s Portrait of Elisabeth Lederer (1914-16), a head-to-toe view executed in Klimt’s signature dreamy, expressionist style (below). With an estimate north of $150 million, the highest for any artwork announced for this auction season as of press..
