Oprah Winfrey Makes $62.1 Million Profit on Gustav Klimt Painting
When Oprah Winfrey bought Gustav Klimt’s 1912 painting “Portrait of Adele Bloch-Bauer II” for $87.9 million bucks in November of 2006, she surely must have thought it was a good investment. But could she have known that the painting would appreciate in value to the tune of $150 million by 2016? Well, it did and, according a to Bloomberg art market reporter, Oprah sold the painting to an anonymous buyer in China, picking up a $62.1 million profit.
The Hollywood Reporter says it is believed to be the single largest private sale of artwork in 2016. No word on why it was hush-hush up til now, but wow, Oprah, whatta haul! We wonder how it ranks up there with Oprah’s list of Best Investments I Ever Made.
The history behind the Klimt paintings of Adele Bloch-Bauer was told in a 2015 film called “Woman in Gold.” The earlier “Portrait of Adele Bloch-Bauer I” was the focus of the film and the title was the name given to the first painting by the Nazis after they annexed Austria and seized a vast amount of valuable collectibles and art.
Events after the war led to a legal battle between the heirs of Ferdinand Bloch-Bauer, Adele’s husband, and the Austrian government. He commissioned Gustav Klimt to paint his wife, so his heirs felt that the Austrian government should return the artwork.
Check youtube out for various documentaries on the topic.