Lost Klimt Portrait of Fräulein Lieser Rediscovered in Vienna, Heading to Auction

A portrait by Gustav Klimt, missing for nearly a century, has been rediscovered in Vienna and will be auctioned by im Kinsky on April 24, 2024. The unfinished painting, 'Bildnis Fräulein Lieser' (140×80 cm), depicts a young woman in floral motifs against an orange background. It was last publicly documented in 1926 at an exhibition at Vienna's Neue Galerie organized by Otto Kallir-Nirenstein, with a 1925 black-and-white photo showing it during preparation. The work was commissioned by the Jewish Lieser family and remained in private hands after Klimt's death in 1918. im Kinsky states it was not looted during WWII but was acquired by the current owners in the 1960s through three inheritances, with provenance referencing a generic 'art market, Vienna.' The sale follows an agreement with the heirs of Adolf and Henriette Lieser 'in the spirit of the Washington Principles.' The subject's identity is uncertain—possibly Helene (1898–1962) or Annie (1901–72). The auction house estimates the value at €30–50 million, noting that no such significant Klimt has been available on the Central European market in decades. Before the auction, the painting will tour the UK, Switzerland, Germany, and Hong Kong. This discovery comes after Klimt's 'Dame mit Fächer' sold for €86 million at Sotheby's in June 2023, setting a European record.