A 1917 watercolor by Egon Schiele that was recently restituted by Colonge’s Museum Ludwig will be sold during Sotheby’s Impressionist and modern art evening sale on May 12 in New York. It is expected to fetch a price of $2.5 million–$3.5 million and is being offered with a guarantee.
Schiele’s Kauernder weiblicher Akt (Crouching Female Nude) depicts a kneeling nude woman, and had been in the collection of the Museum Ludwig since 1976. It was returned to the heirs of Heinrich Rieger, the work’s original owner, last month. A German commission issued a formal recommendation for the work’s restitution after Rieger’s heirs made a claim for it.
“We are now grateful to the Commission for this unanimously adopted recommendation. We also thank the heirs of Dr. Heinrich Rieger for their patience and are relieved that with the return of the work to the family a just and fair solution has now been found,” said the museum’s director, Yilmaz Dziewior, in a statement to ARTnews.