One of Gustav Klimt's final paintings from 1917, 'Portrait of Fräulein Lieser,' has sold at an auction house in Vienna for $32 million by an unidentified buyer.
A portrait of a young woman by Gustav Klimt that was long believed to be lost was sold at an auction in Vienna on Wednesday for 30 million euros . The Austrian modernist artist started work on the 'Portrait of Fräulein Lieser' in 1917, the year before he died, and it is one of his last works. Bidding started at 28 million euros, and the sale price was at the lower end of an expected range of 30-50 million euros. The buyer wasn't identified.
In view of the uncertainty, the current owners and the Liesers' heirs drew up an agreement to go forward with the sale under the Washington Principles, which were drafted in 1998 to assist in resolving issues related to returning Nazi-confiscated art.
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Portrait by Gustav Klimt has been sold for $32 million at an auction in ViennaA portrait of a young woman by Gustav Klimt that was long believed to be lost has been sold at an auction in Vienna for 30 million euros ($32 million)
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