Portrait of Klimt, Missing for 100 Years, Appears at Auction... Valued at 72.1 Billion KRW

Klimt's Work 'Portrait of Riza Yang' Appears at Auction
Auction House: "A Rare and Artistically Significant Piece"

A portrait left by Austrian painter Gustav Klimt in his later years is coming up for auction for the first time in over 100 years since it disappeared from the public eye. The artwork is estimated to be worth at least $54 million (approximately 72.1 billion KRW).

On the 26th (local time), the British BBC reported that Klimt's painting "Portrait of Riezer Young," which had been missing since 1925, will be auctioned on April 24 by the Austrian auction house "Im Kinsky." The work is a portrait of a woman from the wealthy Riezer family in Vienna, Austria, painted by Klimt, who is regarded as a master of Art Nouveau, in 1917. Klimt completed several portraits of women during his later years from 1916 to 1918, and this is one of those works. The Riezer family, the original owners of the painting, were Jewish and are known to have been persecuted during the Nazi regime.

On the 25th (local time), a cameraman is photographing Gustav Klimt's work 'Portrait of Riza Yang,' revealed by Austrian Vienna auctioneer Im Kinski.
[Image source=AFP Yonhap News]

After being exhibited in 1925, the whereabouts of this painting were unknown until the mid-1960s, when it was passed down to an Austrian family and reportedly hung in the living room of a mansion near Vienna. The current owner of the painting revealed that they inherited it from a distant relative two years ago.

The auction house Im Kinsky estimated the painting's value at a minimum of $54 million (approximately 72.1 billion KRW). Im Kinsky described the rediscovery of the work as a "groundbreaking event," stating, "Such a rare piece with artistic significance and value has not appeared in the central European art market for decades." The painting will be auctioned on behalf of the current owner and the legal heirs of the Riezer family. Before the auction in April, the artwork will be exhibited in the UK, Switzerland, Germany, and Hong Kong.

Gustav Klimt's 'Woman with a Fan'.
[Image source=AP Yonhap News]

Meanwhile, Klimt is a famous Austrian painter representing the Art Nouveau style from the late 19th to early 20th century. He is especially known for his dreamy and lavish works adorned with gold leaf, earning him the nickname "The Golden Painter."

Previously, Klimt's last portrait, "Woman with a Fan," was sold at auction in June last year for ?85.3 million (approximately 141.3 billion KRW), setting a record for the highest auction price for a European artwork. The square painting, roughly 1 meter in both width and height, unlike most of Klimt's masterpieces, was not a commissioned work and is known to be one of the few Klimt pieces held in private collections.

This content was produced with the assistance of AI translation services.