Klimt painting fetches $40.4m

A 1915 Gustav Klimt landscape, looted by the Nazis and recently returned to the owner's grandson, has sold for $40.4m (£25.4m) at a New York auction.

Litzlberg on the Attersee was returned to Georges Jorisch, 83, by Salzburg's Museum of Modern Arts in July.

Other highlights of the Sotheby's impressionist and modern art sale included Picasso oil painting L'Aubade, which sold for $23m (£14.5m).

David Norman, of Sotheby's, said the market had "really roared back".   More