{"id":56517,"date":"2025-05-05T20:36:35","date_gmt":"2025-05-06T00:36:35","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=56517"},"modified":"2025-05-05T20:36:35","modified_gmt":"2025-05-06T00:36:35","slug":"record-breaking-klimt-falls-through","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2025\/05\/record-breaking-klimt-falls-through\/","title":{"rendered":"Record-Breaking Klimt Falls Through"},"content":{"rendered":"<div id=\"attachment_53789\" style=\"width: 182px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/04\/Gustav_Klimt_Fraulein_Lieser.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-53789\" class=\"wp-image-53789\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/04\/Gustav_Klimt_Fraulein_Lieser-169x300.jpg\" alt=\"Portrait of Fr\u00e4ulein Lieser by Gustav Klimt\" width=\"172\" height=\"306\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/04\/Gustav_Klimt_Fraulein_Lieser-169x300.jpg 169w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/04\/Gustav_Klimt_Fraulein_Lieser-578x1024.jpg 578w\" sizes=\"(max-width: 172px) 100vw, 172px\" \/><\/a><p id=\"caption-attachment-53789\" class=\"wp-caption-text\">Portrait of Fr\u00e4ulein Lieser by Gustav Klimt<\/p><\/div>\n<p><span data-preserver-spaces=\"true\">A long-lost painting by Gustav Klimt that sold in Vienna last year for $32 million is back in the news after the restitution settlement between the winning bidder, the seller, and the subject\u2019s descendants fell through.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In 2024, one of the top moments in art world news was <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rehs.com\/eng\/2024\/04\/lost-klimt-sells-in-vienna\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the sale of Klimt\u2019s <\/span><\/a><em><a class=\"editor-rtfLink\" href=\"https:\/\/rehs.com\/eng\/2024\/04\/lost-klimt-sells-in-vienna\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Portrait of Fr\u00e4ulein Lieser<\/span><\/a><\/em><span data-preserver-spaces=\"true\"> at the im Kinsky auction house in Vienna. The portrait was presumed lost for close to a century, being one of the last works Klimt began before his death in 1918. The subject is unknown, but the auction house concluded that it is most likely Margarethe Lieser, the daughter of a wealthy Jewish family in Vienna. Even though the family <\/span><span data-preserver-spaces=\"true\">was persecuted<\/span><span data-preserver-spaces=\"true\"> at the hands of the Nazis, the auction house, itself headed by a former art law expert, said that there was no evidence to suggest the painting itself had been stolen or looted during the Second World War. Initially, the sellers agreed to jointly consign the painting with the Lieser family\u2019s descendants, which seemed rather reasonable should new evidence later suggest that the work\u2019s provenance was, in fact, tainted. The Klimt ended up selling for \u20ac30 million, making it the sixth most expensive painting sold at auction in 2024 and the most expensive sold in Austria. Some commentators have noted that the auction house specialists initially predicted that the painting could sell for as much as \u20ac50 million. Still, many potential buyers were likely scared away because of the gaps in the provenance.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">After further investigations, a theory emerged to fill in some of the gaps in the painting\u2019s history. It alleges that the portrait\u2019s subject is not Margarethe <\/span><span data-preserver-spaces=\"true\">Lieser,<\/span><span data-preserver-spaces=\"true\"> but her cousin Helene. Furthermore, Helene\u2019s mother, Henriette, likely sold the Klimt out of desperation after the Nazis froze or confiscated many of her assets. It found its way into the hands of Adolf Hagenauer, whose father-in-law worked as a butler in the Lieser household. Hagenauer gave the painting to his daughter, whose children consigned the work to im Kinsky following her death in 2022. There are still many unanswered questions about how much the Hagenauer family knew about the history of the painting and the circumstances around how the work came to be in their possession.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Shortly after the sale concluded, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/news.artnet.com\/art-world\/controversial-klimt-heir-2478326\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">several alleged descendants came forward<\/span><\/a><span data-preserver-spaces=\"true\"> to contest the agreement with the initial group of heirs. The family descendants who initially consigned the work to im Kinsky did so on behalf of themselves <\/span><span data-preserver-spaces=\"true\">as well as<\/span><span data-preserver-spaces=\"true\"> all potential heirs, opening the door for these claimants. Several claimants <\/span><span data-preserver-spaces=\"true\">came forth<\/span><span data-preserver-spaces=\"true\">, all of whom became parties to the indemnification agreement. However, after months of negotiations, one of the family\u2019s descendants continued to contest the conditions of the contract. After over a year of talks, the Hong Kong-based buyer eventually got fed up and backed out, causing the deal to fall apart in March 2025. <\/span><em><span data-preserver-spaces=\"true\">Der Standard<\/span><\/em><span data-preserver-spaces=\"true\"> estimates that the painting eventually failing to sell cost <\/span><span data-preserver-spaces=\"true\">im<\/span><span data-preserver-spaces=\"true\"> Kinsky around \u20ac1.5 million. Im Kinsky is not as large <\/span><span data-preserver-spaces=\"true\">of<\/span><span data-preserver-spaces=\"true\"> an organization as Christie\u2019s or Sotheby\u2019s. In 2022, they reported \u20ac27 million in revenue against the billions that major auction houses often bring <\/span><span data-preserver-spaces=\"true\">in<\/span><span data-preserver-spaces=\"true\">. \u20ac1.5 million will surely be a significant blow to them.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A long-lost painting by Gustav Klimt that sold in Vienna last year for $32 million is back in the news after the restitution settlement between the winning bidder, the seller, and the subject\u2019s descendants fell through. In 2024, one of &hellip; <a href=\"https:\/\/rehs.com\/eng\/2025\/05\/record-breaking-klimt-falls-through\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":6,"featured_media":50365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[840,634,207,134,20,835,523,9],"class_list":["post-56517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-20th-century-austrian-art","tag-20th-century-european-art","tag-auction-news","tag-auction-records","tag-auction-results","tag-nazi","tag-portrait","tag-rehs-galleries-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Record-Breaking Klimt Falls Through - Rehs Galleries<\/title>\n<meta name=\"description\" content=\"After over a year of talks with the original owner&#039;s heirs, the buyer of a long-lost $32 million Gustav Klimt painting has backed out.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2025\/05\/record-breaking-klimt-falls-through\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Record-Breaking Klimt Falls Through\" \/>\n<meta property=\"og:description\" content=\"After over a year of talks with the original owner&#039;s heirs, the buyer of a long-lost $32 million Gustav Klimt painting has backed out.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2025\/05\/record-breaking-klimt-falls-through\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-06T00:36:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/01\/kinsky-klimt-1-klein-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"206\" \/>\n\t<meta property=\"og:image:height\" content=\"206\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Scheer\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Scheer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2025\\\/05\\\/record-breaking-klimt-falls-through\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2025\\\/05\\\/record-breaking-klimt-falls-through\\\/\"},\"author\":{\"name\":\"Nathan Scheer\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#\\\/schema\\\/person\\\/1d33fd182b28afdad8fc3548ffe6bdc4\"},\"headline\":\"Record-Breaking Klimt Falls Through\",\"datePublished\":\"2025-05-06T00:36:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2025\\\/05\\\/record-breaking-klimt-falls-through\\\/\"},\"wordCount\":556,\"publisher\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2025\\\/05\\\/record-breaking-klimt-falls-through\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rehs.com\\\/eng\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kinsky-klimt-1-klein-1.jpg\",\"keywords\":[\"20th Century Austrian Art\",\"20th Century European Art\",\"Auction News\",\"Auction Records\",\"Auction Results\",\"nazi\",\"portrait\",\"Rehs Galleries - Art World News\"],\"articleSection\":[\"Rehs 19th &amp; 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