The Austrian province of Salzburg said it will return a landscape by Gustav Klimt to the heir of a Jewish woman who was murdered by the Nazis, after research showed the artwork was looted from her apartment by the Gestapo.
High-value paintings by Gustav Klimt and Salvador Dali failed to sell at a $124.7 million auction in London tonight as wealthy buyers of Impressionist and modern art balked at over-ambitious estimates.
She was the woman Gustav Klimt spent his life with, yet they never lived together or married. His offspring -- as many as 14, including two baby Gustavs born from different mothers in the same summer -- were by other women.
Billionaire Reinhold Wuerth, who has collected art for more than 40 years, last year spent about $70 million for a Holbein painting of the Madonna. It was the highest price ever paid for an artwork in Germany.
Paintings from Andy Warhol’s “The American Indian” series and an Egon Schiele work valued at nearly $50 million are among the gallery exhibits vying for collectors’ attention during London’s busiest-ever Frieze Week.
A $40.4 million Gustav Klimt painting underpinned a rebound in art auctions last night as Sotheby’s sold $200 million of Impressionist and modern works in New York, beating a sale the previous day by Christie’s International.