The art world witnessed a smashing record with a painting by Gustav Klimt sold for a record-breaking $236.4m (£179.7m, A$364m) with fees, making it the second most expensive artwork ever sold at auction and the most expensive work of modern art sold at auction. The six-foot-tall painting was painted by the Austrian painter between 1914 and 1916 that depicts a young heiress and daughter of Klimt’s patrons, draped in a Chinese robe.