The recently discovered Gustav Klimt painting, ‘Portrait of Fräulein Lieser,’ sold for 30 million euros (approximately $32 million) at an auction in Vienna on Wednesday. The modernist masterpiece, one of Klimt’s last works, was painted in 1917, the year before the artist’s passing. The auction commenced at 28 million euros, with the final sale price falling within the anticipated range of 30-50 million euros. The identity of the winning bidder remains undisclosed.
The ‘Portrait of Fräulein Lieser’ holds significant historical importance. It was commissioned by the Lieser family, prominent Austrian citizens, though the specific family member depicted remains uncertain. The painting remained in Klimt’s studio upon his demise in early 1918 and was subsequently handed over to the Lieser family, according to the auction house Im Kinsky.
Subsequent to 1930, the Lieser family, being of Jewish descent, was compelled to flee Austria, resulting in the loss of a substantial portion of their belongings. The painting’s whereabouts during the period between 1925 and the 1960s, which coincided with the Nazi era, are shrouded in mystery.
Despite the absence of concrete evidence, the auction house has stated that there is no indication that the painting was seized by the Nazis. However, the possibility of such an occurrence cannot be definitively ruled out. The painting ultimately came into the possession of its current owners through a series of inheritances.
To address potential concerns regarding the painting’s provenance, the current owners and the Lieser heirs agreed to proceed with the sale in accordance with the Washington Principles. These principles were established in 1998 to facilitate the resolution of disputes related to the restitution of art confiscated by the Nazis.
