One of the last pieces created by the well-known artist, Portrait of Fraulein Lieser, was last displayed in a public setting in 1925.
Known as Portrait of Fraulein Lieser, it is one of the last paintings created by the renowned artist.
For almost a century, the painting was thought to be lost until it turned up in an Austrian’s private collection.
Austrian media reports state that the artwork was only known to specialists through a black and white photograph until it was last viewed in public in 1925.
That was some time ago, and no one knew where it had been hiding until it was found on the wall of a family villa close to Vienna.
The wealthy Jewish industrialists in Vienna, the Lieser family, once owned the painting.
Im Kinsky, a Viennese auction house, values the painting at over €50 million, or £42 million.
“The rediscovery of this portrait, one of the most beautiful of Klimt’s last creative period, is a sensation,” it read.
“His art is highly regarded throughout the world, especially his depictions of prosperous women from the upper middle class at the turn of the century.
Promotion
“A painting of such rarity, artistic significance, and value has not been available on the art market in Central Europe for decades.”
The painting will be put up for auction on April 24. Prior to that, it will travel the world and be shown in a number of venues, with stops scheduled in Britain, Switzerland, Germany, and Hong Kong.
The June auction of Klimt’s Lady with a Fan at Sotheby’s in London set a new record for the highest price ever paid for an artwork in Europe, taking in £85.3 million.
