A Gustav Klimt portrait painting that helped save the life of its Jewish subject during the Holocaust sold Tuesday for $236.4 million, a record for a modern art piece.

It was a defining moment for the depressed art market when a lush portrait of a woman by Gustav Klimt became the second-most expensive painting ever sold at auction and set a record for the Austrian p...

Six bidders battled for 20 minutes over the "Portrait of Elisabeth Lederer," which Klimt painted between 1914 and 1916.