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 was sold at an auction in Vienna on Wednesday 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 at 28 million euros, and the sale price was at the lower end of an expected range of 30-50 million euros. The buyer wasn’t identified.

The Im Kinsky auction house said that “a painting of such rarity, artistic significance, and value has not been available on the art market in Central Europe for decades.”

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. It’s not entirely clear which member of the Lieser family was the model.