The hyper-inflation of works by Gustav Klimt defies rational explanation. In the 1950s, a good Klimt canvas went for $5,000.
Last night someone paid $40.4m at Sothebys New York for a common-or-garden lakescape of the Attersee, where Klimt and Mahler spent their summers, Mahler in the early 1890s (2nd and 3rd symphonies), Klimt a bit later. See here for further connections.
Klimt, idle, painted lots of Attersee views. And the price just keeps rising. Here’s CultureGrrl on the bidding war.