Displaying items by tag: klimt foundation

A painting by Gustav Klimt that has been in private hands for over a century will be auctioned at Sotheby’s Impressionist and Modern Art Evening Sale here on June 24. The work, “Portrait of Gertrud Loew,” painted in 1902, has an estimated sale price of 12 million to 18 million pounds (about $18 million to $28 million), and is for sale as a result of a settlement between the Felsovanyi family, the heirs of the painting’s subject, and the Klimt Foundation.

A portrait by Gustav Klimt could be put up for sale, potentially fetching over $30 million, to resolve a dispute between a Viennese art foundation and the granddaughter of the woman in the painting, a lawyer for the granddaughter said on Thursday.

Klimt, an Austrian symbolist, painted the portrait of Gertrud Loew in 1902 and it belonged to her at least until 1938, a year before she fled Austria to escape the Nazis.

Her U.S.-based granddaughter, Andrea Felsovanyi, has been contesting ownership with the private Klimt Foundation, which currently holds the work.