The art world is buzzing about the 24 extraordinary lots from the collection of one of Palm Beach’s greatest philanthropists and greatest sons, Leonard Lauder, to be auctioned at Sotheby’s on Nov. 18. Led by Gustav Klimt’s “Portrait of Elisabeth Lederer” (1914), alone estimated at $150 million, the sale also includes masterworks by Matisse, Munch, Picasso, Martin, Oldenberg and van Bruggen. A private celebration of the life and legacy of Mr. Lauder, who died in June at the age of 92, will take place at Lincoln Center on Sept. 29.