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.
