A portrait by Gustav Klimt has been sold for $32 million at an auction in Vienna

VIENNA (AP) — A portrait of a young woman by Gustav Klimt that was long believed to be lost has been sold at an auction in Vienna for 30 million euros ($32 million). The Austrian modernist artist started work on the “Portrait of Fräulein Lieser” in 1917, the year before he died, and it is one of his last works. Bidding started on Wednesday at 28 million euros, and the sale price was at the lower end of an expected range of 30-50 million euros. The intensely colored painting was auctioned on behalf of the current owners, Austrian private citizens whose names weren’t released, and the legal heirs of Adolf and Henriette Lieser, one of whom is believed to have commissioned the painting.