New York's fall art auctions expected to bring in $1.4 billion

Art Market & Auction Dynamics - A collection is expected to sell for $400 million [1] - Gustaf Klimt's portrait of Elizabeth Letterer could fetch $150 million [1] - Leonard Lauder's art collection includes works by Picasso, Van Gogh, and Matisse [4] - Lauder gifted entire collections to museums, including a billion-dollar cubist collection to a museum in New York [3] - New York's fall auctions are set to fetch more than $1.5 billion this year [5] Economic Dichotomy & Art - An 18-karat gold toilet is expected to sell for over $10 million [6] - A banana art piece sold for $6.2 million last year [6] Art's Value Beyond Monetary Worth - Lauder's collection includes items at various price points, with some available for $30,000 [4] - Art's value lies in its preservation, education, and ability to bring delight [7]