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Klimt painting looted by Nazis sold for $40M in NY

November 3, 2011

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NEW YORK—A 1915 painting by Gustav Klimt that was looted by the Nazis and returned to the owner's grandson has sold for $40.4 million at auction.

The painting, Litzlberg (LIHT'-zehl-behrg) on the Attersee, was returned to 83-year-old Georges (zhorzh) Jorisch by an Austrian museum in July.

The landscape was originally owned by Austrian iron magnate Viktor Zuckerkandl (ZUHK'-ehr-kan-duhl) before being passed on to his sister, Amalie Redlich.

She was deported in 1941 and never heard of again. Her art collection was seized by the Nazis and sold off. Jorisch is her grandson.

The painting was sold Wednesday at Sotheby's in New York. The buyer's identity wasn't released.

Austria has returned looted works of art to their rightful owners or heirs, most of them Jewish, under a 1998 restitution law.