Gustav Klimt auction – hammer falls at 30 million

In January, the Viennese auction house “Im Kinsky” announced the rediscovery of the painting “Fräulein Lieser” by Gustav Klimt. At the same time, it also announced that the auction house would be auctioning the work on April 24. Estimated at 30 to 50 million, it has now been knocked down at the hammer price of 30 million (excluding buyer’s premium).

The painting was considered lost for almost 100 years and belongs to the late work of the turn-of-the-century artist Gustav Klimt. It was painted in 1917 and was still unfinished in Klimt’s studio when he died in 1918. The hammer price of 30 million set a new auction record for Austria. Auctioneer Michael Kovacek led the packed room through the 19 lots at a rapid pace, with the showpiece at the end. He started with 28 million, but only three bids were placed. One bidder in the hall was delighted to win the lot at 30 million, the lower estimate. In addition to the hammer price, the Hong Kong buyer had to pay a premium for one of Gustav Klimt’s last works. The auction house was happy with the result, but also a little surprised, as the result was in line with “international standards”. However, it is not the most expensive painting by the Austrian Art Nouveau painter, whose works can be admired in museums all over the world. Nevertheless, it is proof that continental European auction houses can certainly keep up with the big names such as Christies and Sotheby’s. In addition to the painting “Fräulein Lieser”, drawings and sketches by Gustav Klimt, Koloman Moser and Egon Schiele were also offered. However, not all the lots were sold.

The painting, measuring 140 x 80 cm, was undiscovered for years in private Austrian ownership. It is unclear who is depicted – the title only reveals that it is a Miss Lieser. There are a total of three young women who could have posed for Klimt. Helene (1898-1962) or Annie Lieser (1901-1972), daughters of the Jewish art patron Henriette Lieser-Landau, but also her niece Margarethe Constance Lieser (1899-1965), daughter of Adolf Lieser, come into consideration. There are gaps in the provenance of the work. The painting was probably last seen in public in 1925 at an exhibition in Vienna. After that, the fate of the painting is unknown until the 1960s. The provenance for the period of Nazi rule is therefore also unclear. All that is known is that Henriette Lieser was murdered in Auschwitz in 1943. The consignor, who inherited the work from a distant relative, and the auction house have therefore come to an agreement with the heirs in accordance with the Washington Principles, i.e. in the interests of a fair and equitable solution. The auction house also announced that it had thoroughly investigated the background and provenance of the painting, in particular because it “represents an unusual dimension in terms of quality, international significance and value (for the Vienna auction house)”. Interested parties can still admire Klimt’s painting in the rooms of the auction house “Im Kinsky” until May 3.