Sotheby’s to Auction $520 Million in Masterworks from Pritzker and Lauder Collections

Star Lots by Klimt, Van Gogh, Matisse to Lead Landmark Sales

Sotheby’s has secured the consignment of two major private art collections, valued collectively at around $520 million, for its marquee auction series in New York this November—the first to be held at its newly renovated global headquarters in the iconic Breuer Building. The collections, from the estates of philanthropists Jay and Cindy Pritzker and cosmetics magnate Leonard Lauder, mark a significant win for the auction house as it faces mounting losses in an uncertain global art market.

The Pritzker collection, comprising 37 blue-chip works, is expected to fetch around $120 million. Headlining the group is Vincent van Gogh’s Romans Parisiens (Les Livres jaunes) (1887), a rare literary still-life with a $40 million estimate. Also featured are paintings and sculptures by Paul Gauguin, Wassily Kandinsky, Joan Miró, Max Beckmann, Henri Matisse, and Ernst Ludwig Kirchner. Jay and Cindy Pritzker, renowned for co-founding the Pritzker Architecture Prize, built one of Chicago’s most respected art collections over decades.

The Lauder collection, set for a standalone 24-lot evening sale, is valued at $400 million and anchored by Gustav Klimt’s full-length Portrait of Elisabeth Lederer (1914–16), estimated at over $150 million and poised to potentially set a new auction record for the artist. Other Klimt works, including Blooming Meadow (1908) and Forest Slope in Unterach (1916), are expected to realize $80–100 million and $70–90 million, respectively. Supplementing the lineup are six Matisse bronzes, an Edvard Munch painting, and a major Agnes Martin canvas.

These sales arrive at a critical juncture, with Sotheby’s parent company reporting losses of $248 million in 2024 amid a market contraction of 6.2% in the first half of 2025. Analysts suggest the house may have offered substantial guarantees or fee waivers to secure these high-profile consignments. Rival Christie’s, meanwhile, has landed the Weis family collection (est. $180 million) and trophy lots from the late Elaine Wynn (est. $75 million), heightening this season’s competition at the top of the global art market.

With Gustav Klimt’s Portrait of Elisabeth Lederer expected to set a new benchmark this autumn, and rare highlights from Van Gogh and Matisse, Sotheby’s November auctions are set to be among the most closely watched in years.

Cover Image: Gustav Klimt’s Portrait of Elisabeth Lederer (1914-16) and Vincent van Gogh’s Romans Parisiens (Les Livres jaunes) (1887) | Courtesy of Sotheby’s

Further Reading

1. https://www.theartnewspaper.com/2025/09/16/sothebys-lauder-pritzker-collections-consigned-new-york-auctions
2. https://news.artnet.com/market/leonard-lauder-collection-sothebys-2687701
3. https://news.artnet.com/market/pritzker-collection-sothebys-2688225
4. https://www.sothebys.com/en/series/the-cindy-and-jay-pritzker-collection
5. https://www.sothebys.com/en/articles/sothebys-unveils-the-cindy-and-jay-pritzker-collection