Long-lost Klimt portrait auctioned off for 30 million euros

A painting by artist Gustav Klimt that reappeared after nearly a century sold for 30 million euros on Wednesday, setting a record price for an Austrian auction despite questions surrounding its provenance.

Vienna auction house im-Kinsky had estimated the value from 30 to 50 million euros for the Portrait of Miss Lieser, which was commissioned by a wealthy Jewish industrialist's family and painted by Klimt in 1917 shortly before he died. Last June, Klimt's "Lady with a Fan" was sold in London for £74 million, a European art auction record.

The highest price paid at auction in Austria is a work by Flemish painter FransFrancken II, which fetched seven million euros in 2010.