A Gustav Klimt painting that once belonged to a Jewish family in Austria and was believed lost for 100 years, has been found in Vienna.
“Portrait of Fraulein Lieser”, which has been valued at more than £42 million, was last seen in public in 1925.
It is unclear what happened to the painting after that but the family of the current owners have had it since the 1960s.
The portrait once belonged to the Lieser family, who were wealthy, Jewish industrialists in Vienna.
The im Kinsky auction house said: “A painting of such rarity, artistic significance and value has not been available on the art market in Central Europe for decades.”
The painting is set to be auctioned in April on behalf of the owners, and the legal successors of the Lieser family.
This is based on the Washington Principles, an international agreement to return Nazi-looted art to the descendants of the people they were taken from.
An art lawyer told Austrian media they had so far found no evidence that the work had been looted or stolen before or during World War Two.Before the portait is auctioned it will be presented at various locations internationally; planned stops include Switzerland, Germany, the UK, and Hong Kong.
Klimt's art has fetched huge sums at auction in the past.
His Lady with a Fan piece became the the most valuable work of art ever sold at auction in Europe when it sold for £85.3 million in June.
