A Gustav Klimt painting that vanished for almost a century has reappeared in Vienna.
The painting, titled Portrait of Fraulein Lieser, was commissioned by a wealthy industrialist’s family and painted by Klimt in 1917 shortly before he died. The colourful, well-preserved painting, which shows a dark-haired woman, was presented to the public in Vienna for the first time on Thursday.
The painting was considered lost for about 100 years - until it resurfaced in a villa near Vienna - and was last seen at a Viennese exhibition in 1925, documented by a black-and-white photo cited as the only previous proof of its existence. The photo identifies the last owner of the painting as a member of the Lieser family, who lived at Vienna’s Argentinierstrasse 20, says The Times of Israel.
Its whereabouts had remained a mystery since then. The portrait re-emerged when the current owner sought legal advice from lawyer and art law expert Ernst Ploil before inheriting it - and has now decided to sell it.
The Viennese auction house Im Kinsky estimates the painting's value to be at least $50 million. But this figure is likely to be substantially eclipsed as, last year, Klimt's Lady with a Fan - left on the artist's easel when he died in 1918 - became the most expensive painting auctioned in Europe, selling for $108 million.
The auction house says of Portrait of Fraulein Lieser: "The rediscovery of this portrait, one of the most beautiful of Klimt's last creative period, is a sensation. His work, particularly his portraits of successful women from the upper middle class at the turn of the century, enjoy the highest recognition worldwide." Adding that it's a "painting of such rarity, artistic significance, and value."
The painting is to be sold at auction by Auktionshaus im Kinsky on 24 April, before which it will be showcased around the globe, going on display at various locations including planned stops in Britain, Switzerland, Germany, and Hong Kong.
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