By Maria Bregman
Gustav Klimt, one of the most celebrated artists of the 20th century, is known for his sensual and ornamental paintings of women, such as “The Kiss” and “Portrait of Adele Bloch-Bauer I.” But there is one portrait by the Austrian master that has remained hidden from the public eye for nearly a century, until now.
The “Portrait of Fräulein Lieser,” a stunning depiction of a young woman from a prominent Viennese family, is set to go under the hammer at the Vienna auction house im Kinsky on April 27, 2024. The painting, which is estimated to sell for between $40 million and $54 million, is one of the last works Klimt completed before his death in 1918, and one of the most beautiful examples of his late period, according to the auctioneer.
The portrait, which measures 70 by 70 centimeters, has a fascinating and mysterious history. It was commissioned by either Adolf or Justus Lieser, two brothers who were leading industrialists in the Austro-Hungarian empire, to portray one of their daughters, Margarethe Constance or Lilly. The identity of the sitter is not entirely clear, as Klimt only referred to her as “Fräulein Lieser” in his correspondence.
The young woman visited Klimt’s studio nine times in April and May 1917, where he made at least 25 preliminary studies and most likely began the painting in the May of that year. The painter chose a three-quarter portrait for his depiction and showed the young woman in a strictly frontal pose, close to the foreground, against a red, undefined background. A cape richly decorated with flowers is draped around her shoulders, creating a contrast between the natural and the artificial, the organic and the geometric.
The painting reveals Klimt’s mastery of color and form, as well as his shift towards loose, open brushstrokes that give the impression of movement and vitality. The portrait also reflects the influence of the Expressionist movement, which Klimt encountered through his friendship with Egon Schiele, who was 28 years younger than him and whom he mentored.
The portrait was still in Klimt’s studio when he died of a stroke in February 1918, at the age of 55. Some small parts of the painting were not quite finished, such as the lower left corner and the edge of the cape. The painting was then inherited by Klimt’s brother Ernst, who sold it to an unknown buyer in 1920. The painting was documented in catalogues of Klimt’s work, but experts had only seen it in a black and white photo, and it was long considered lost.
The painting resurfaced in 2023, when it was revealed that it had been privately owned by an Austrian citizen, who wished to remain anonymous. The owner decided to consign the painting to im Kinsky, which authenticated it with the help of Klimt experts and technical analyses. The auction house said that the rediscovery of the portrait was a sensation, and that it was a rare opportunity to acquire a masterpiece by Klimt, whose works are mostly in museums or private collections.
The portrait is expected to attract international interest and fierce bidding, as Klimt’s paintings are among the most sought-after and expensive in the art market. The last portrait completed by Klimt, “Portrait of a Lady,” became the most expensive artwork ever to sell at a European auction, when it fetched a staggering $108.4 million in London in 2023. The painting had its own dramatic story, as it was stolen from an Italian gallery in 1997 and found behind a hidden door in 2019.
The “Portrait of Fräulein Lieser” is not only a stunning example of Klimt’s art, but also a witness of a turbulent and tragic era in European history. The Lieser family, like many other wealthy Jewish families in Vienna, suffered from the rise of Nazism and the persecution of Jews. Adolf Lieser died in 1938, the same year that Austria was annexed by Nazi Germany. His daughter Margarethe Constance, who may have been the sitter of the portrait, committed suicide in 1940. Justus Lieser and his wife Lilly managed to escape to Switzerland, where they died in 1952 and 1964, respectively.
The portrait, which was once a symbol of the glamour and sophistication of Viennese society, is now a reminder of the fragility and resilience of human life and culture. It is also a testament to the genius and legacy of Klimt, who captured the beauty and complexity of his subjects with his unique and captivating style.





