Portrait of Elisabeth Lederer

Portrait of Elisabeth Lederer (German: Bildnis Elisabeth Lederer) or Portrait of Elisabeth Bachofen-Echt is an oil painting on canvas by Austrian artist Gustav Klimt, painted 1914–1916. The life-size portrait depicts a young Elisabeth Lederer, daughter of Viennese art collectors August Lederer and Serena Lederer, who commissioned the work. The painting was later owned by American collector Leonard Lauder. On 18 November 2025, following Lauder's death earlier that year, Portrait of Elisabeth Lederer was sold at Sotheby's in New York for US$236.4 million, making it the most expensive work of modern art sold at auction and the second most expensive work of art ever sold at auction.