KLIMT K.O.'s PICASSO IN 30 SECONDS.

This stunning portrait of Austrian society lady Adele Bloch-Bauer in gold leaf and oil by Gustav Klimt has been sold for a new record price of US$135 million. This beats the $104.1 million paid for Pablo Picasso's 1905 "Boy With a Pipe (The Young Apprentice)" at a Sotheby's auction in 2004.

The buyer was billionaire cosmetics magnate Ronald S. Lauder, who when asked how long it took him to decide to buy the painting replied "Thirty seconds."