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A long-lost € 50M painting by Gustav Klimt resurfaced in Vienna.

A long-lost painting by Austrian artist Gustav Klimt, believed missing for a century, has resurfaced in Vienna.

The Portrait of Fraulein Lieser, once belonging to a Jewish family in Austria, was last publicly seen in 1925. Its whereabouts remained a mystery until recently, when it was discovered in the possession of the current owners' family since the 1960s.

Im Kinsky auction house has appraised the painting at over $54 million (£42 million) and heralded its rediscovery as "a sensation."

Described as a rare and artistically significant piece, the portrait will be auctioned on April 24th, following the Washington Principles, an international agreement aiming to return Nazi-looted art to its rightful heirs.

Before the auction, the painting will tour various international locations, including the UK, Switzerland, Germany, and Hong Kong, according to the auction house.

The portrait's origins trace back to the Lieser family, prominent Jewish industrialists in Vienna. Despite investigations, no evidence has surfaced suggesting the painting was looted or stolen during World War Two, according to statements made to Austrian media by an art lawyer.

Klimt's artworks have commanded substantial sums at auctions previously, with his piece Lady with a Fan fetching £85.3 million in June, setting a record as the most valuable artwork ever sold at auction in Europe.

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