Gustav Klimt portrait found after almost 100 years

A painting by the Austrian artist Gustav Klimt, that was believed lost for 100 years, has been found in Vienna.

Portrait of Fraulein Lieser once belonged to a Jewish family in Austria and was last seen in public in 1925.

Its fate after that is unclear but the family of the current owners have had the painting since the 1960s.

The im Kinsky auction house estimates the painting’s value at more than $54 million (£42 million).

It called the rediscovery “a sensation”.

“A painting of such rarity, artistic significance and value has not been available on the art market in Central Europe for decades,” im Kinsky said in a statement.