Gustav Klimt's "Lady with a Fan" has set a new record for the most expensive work of art sold in Europe, reaching £74m ($108.77m) at Sotheby's London. The painting was sold in a 10-minute bidding battle, following a 30-year absence from the market. The sale surpassed the previous European Auction Record of $104.3m for Alberto Giacometti’s sculpture “Walking Man I” in 2010. The portrait is the second-highest price for any portrait ever sold at an auction in the world, behind Leonardo da Vinci’s “Salvator Mundi,” which sold for $450m in 2017.

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