Neue Galerie New York is an Upper East Side museum dedicated to early twentieth-century German and Austrian art and design. It was conceived by art dealer Serge Sabarsky and collector Ronald S. Lauder, who met in 1967 and shared a passion for the period; after Sabarsky's death in 1996, Lauder opened the museum in his memory in November 2001. Its second floor holds Austrian works by Gustav Klimt, Oskar Kokoschka, and Egon Schiele along with Wiener Werkstätte decorative objects, while its third floor covers German movements including Der Blaue Reiter, Die Brücke, and the Bauhaus, with works by Kandinsky, Klee, and Kirchner. In 2006 Lauder purchased Klimt's "Portrait of Adele Bloch-Bauer I" for the collection, a painting that then sold for a record price of more than $135 million.