portrait of Gustav Klimt discovered nearly a century later

In Vienna, a painting by Austrian artist Gustav Klimt that was thought to be lost for a century has been discovered. “Portrait of Fraulein Lieser” was last exhibited in public in 1925 and originally belonged to a Jewish family in Austria. The current owners’ family has owned the picture since the 1960s; however, it is uncertain what will happen to it after that. The picture is estimated to be worth around $54 million (£42 million) by the im Kinsky auction house. The rediscovery was referred to as “a sensation”. “A painting of such rarity, artistic significance and value has not been available on the art market in Central Europe for decades,” im Kinsky stated in a press release.

On behalf of the owners and the Lieser family’s legal heirs, the image will now be auctioned on April 24. The foundation of this is the Washington Principles, an international pact to restore Nazi-obtained artwork to the ancestors of the persons who stole it. According to the auction house, the painting will be seen before the auction in a number of other countries, including the UK, Switzerland, Germany, and Hong Kong. The affluent Jewish entrepreneurs of Vienna, the Lieser family, formerly owned the painting. According to an art lawyer speaking to Austrian media, there is currently no proof that the artwork was taken or plundered before to or during World War II. Klimt’s works have sold for enormous prices at auction in the past.

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