A painting by the most famous Austrian painter, Gustav Klimt, was recently discovered in a private collection in Austria and will be offered at auction on April 24.
The work of the Austrian painter Klimt was presented to the public on Thursday by the “Im Kinsky” auction house in Vienna.
“Portrait of Miss Lieser” (Bildnis Fraeulein Lieser) from 1917 is estimated at over $70 million.
The painting, measuring 140 by 80 centimeters, was privately owned in Austria for decades and was passed down several times in the family, the Austrian public service ORF reported.
The artwork was commissioned by a wealthy Jewish family, whose last known owner died during deportation in 1943.
The latest heir wants to sell at auction and has contacted Kinsky lawyer and co-director Ernst Ploil.
Mihael Kovaček, the second general manager of the auction house, said that it is “a great thing” that a work of such rare value and rank can be offered on the art market in this country.
Bids are expected for the auction from all over the world.
As Kovaček explained to ORF, the painting “could cost up to 70 million euros”.
It is known that after the painter’s death, on February 6, 1918, the work was first returned to the client.
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