The vibrant and enigmatic “Portrait of Fraulein Lieser” by Gustav Klimt, an acclaimed Austrian modernist artist, was the star attraction at an auction in Vienna on Wednesday. The bidding started at a staggering €28 million, with the final sale price settling at €30 million (US$32 million), which falls within the expected range of €30-€50 million. An anonymous bidder from Hong Kong emerged victorious, acquiring this exceptional work of art. The auction house, Im Kinsky, expressed its delight with the outcome, emphasizing the rarity, artistic significance, and extraordinary value of the painting, which has not graced the Central European art market for decades.
The history of the painting is shrouded in mystery and uncertainty. Klimt left the portrait unfinished in his studio when he succumbed to a stroke in early 1918. It was subsequently passed on to the family who had commissioned the work, according to the auction house. However, the Jewish Lieser family was compelled to flee Austria after 1930, losing the majority of their possessions in the process. The painting’s fate between 1925 and the 1960s, a period marked by the Nazi dictatorship and Austria’s annexation by Nazi Germany in 1938, remains unclear.
Despite the absence of concrete evidence, the auction house maintains that there is no indication that the painting was confiscated during that tumultuous era. However, they also acknowledge the lack of proof to the contrary. The current owners acquired the painting through a series of inheritances. Given the uncertainties surrounding the painting’s history, an agreement was reached between the current owners and the Lieser heirs to proceed with the sale in accordance with the Washington Principles, which were established in 1998 to facilitate the resolution of issues related to Nazi-confiscated art.
The auction of “Portrait of Fraulein Lieser” not only shattered the previous Austrian auction record, which stood at just over €7 million for a work by Frans Francken the Younger in 2010, but also underscores the enduring allure of Klimt’s captivating artistry. The painting will undoubtedly continue to intrigue and inspire art enthusiasts for generations to come.
