An interesting dispute is unfolding involving this terrific Klimt. It involves a sale of the work which was given at far below the market price in exchange for the export of other works of art. From the NYT:
The gold-painted frieze was owned by the Lederer family, wealthy Austrian Jews who were important patrons of Klimt’s. When the Nazis invaded Austria in 1938, the family escaped to Switzerland, but its extensive art collection was seized and its once formidable industrial empire bankrupted. Many of the family’s valuable works, including 18 Klimts, were destroyed in the final days of the war.
The mammoth frieze survived and was formally returned to Erich Lederer, the family heir, after the war. But there was a hitch. The Austrian government would grant him export licenses for his other artworks only if he sold the “Beethoven Frieze” to the state at a cut-rate price, Mr. Lederer’s heirs say.
In a 1972 letter to Bruno Kreisky, then the Austrian chancellor, Mr. Lederer complained about what he considered government extortion, writing that officials were “trying to force me to my knees” and thinking “why won’t he finally die, this LEDERER!”
Mr. Lederer finally agreed to sell the frieze to the government in 1973 for $750,000: half of its estimated worth at the time, according to an evaluation by Christie’s. Since 1986, it has been on view at the turn-of-the-century Secession gallery, where it was first shown at a 1902 exhibition named after Klimt’s breakthrough art movement.
Georg Graf, a law professor and restitution expert at the University of Salzburg, who is supporting the family’s claim, said, “While the Austrian Republic did formally return the artwork after the war, it ultimately forced Erich Lederer to sell it back in old age by upholding the export ban.”
Cohen, Patricia. “Heirs Press Austria to Return Looted Klimt Frieze.” The New York Times, October 15, 2013.