How much is art worth to you? The following is a list of five of the most expensive paintings ever sold and an indication of the value of art.

1. No. 5, 1948

Artist: Jackson Pollack
Buyer: David Martinez (as speculated by art experts)
Price: $140 million

Photo credit: Art Chooser

Hollywood entertainment magnate and art collector David Geffen is reported to have sold Jackson Pollack’s “No. 5, 1948” to financier David Martinez in 2006 at $140 million, making it the highest sum ever known to have been paid for a painting. The sale has been denied by both parties, but was confirmed by art experts who had knowledge of the transaction.

2. Woman III

Artist: Willem de Kooning
Buyer: Steven Cohen
Price: $137.5 million

Photo credit: Gagosian Gallery

Hedge fund billionaire Steven A. Cohen added Willem de Kooning’s “Woman III” to his personal collection for a reported $137.5 million in 2006. The painting joined a Manet self portrait and Damien Hirst’s infamous shark piece in Cohen’s personal collection, which is considered one of the greatest in the world.

During the 1940s and 50s, the female figure became a recurring theme of Kooning’s work. “Woman III” is part of Kooning’s six piece “Woman” series. The remaining five pieces are held by prestigious museums around the world.

3. Portrait of Adele Block-Bauer I

Artist: Gustav Klimt
Buyer: Ronald S. Lauder
Price: $135 million

Photo credit: Museum Associates/Agence France-Presse

In June 2006, cosmetics heir Ronald S. Lauder paid $135 million for Gustav Klimt’s “Portrait of Adele Block-Bauer I”. Lauder bought the painting for the Neue Galerie in Manhattan, a small gallery he founded in 2001. As a space dedicated entirely to German and Austrian artwork, the Neue Galerie is a perfect home for the piece, which was seized by the Nazis in Austria during World War II.

4. Nude, Green Leaves and Bust

Artist: Pablo Picasso
Buyer: Anonymous
Price: $106.5 million

Photo credit: World Art Resources

Picasso’s portrait of his mistress Marie-Thérèse Walter sold for $106.5 million at a Christies auction in New York in May 2010. This was the highest sum paid for a Picasso piece, surpassing the $104.1 million paid for "Boy With a Pipe” in 2004. Prior to the transaction, the piece had belonged to art collector Frances Brody and her late husband, Sidney Brody and had been kept out of the spotlight. The couple had bought the painting in 1951 and only exhibited it once in 1961 to celebrate Picasso’s 80th birthday.

5. Garcon a la Pipe (Boy with a pipe)

Artist: Pablo Picasso
Buyer: Anonymous, rumored to be Guido Barilla
Price: $104 million

Photo credit: The Artist Pablo Picasso

Picasso’s 1905 piece “Boy with a pipe” was sold at a Sotheby’s auction in 2004 for $104 million. At the time, it was the highest sum that anyone had paid for a painting at an auction (this record would be exceeded by #4 on our list, “Nude, Green Leaves and Bust” which was sold at $106.1 million at a Christies auction). The piece was previously owned by John Hay Whitney, a former editor of The New York Herald Tribune and the International Herald Tribune, and his wife, Betsey Whitney.

References:

NY Times: A Pollock Is Sold, Possibly for a Record Price

NY Times: Landmark De Kooning Crowns Collection

NY Times: Lauder Pays $135 Million, a Record, for a Klimt Portrait

BBC news online: Picasso painting fetches record $106m at auction

BBC new online: Who buys paintings for $104m?

MSNBC: Picasso’s ‘Boy with a Pipe’ sells for $104 million

*Note: Prices have not been adjusted to inflation