Daniel Adler, center, federal attorney general of Mar del Plata, Argentina, and federal attorney Carlos Martinez, left, give a press conference in front of a painting identified by Dutch newspaper AD as "Portrait of a Lady" by Italian baroque portraitist Giuseppe Ghislandi, allegedly stolen by the Nazis from a Dutch Jewish art collector, at the Public Prosecutor's Office in Mar del Plata, Argentina, on Sept. 3, 2025. STRINGER/AFP via Getty Images

An Argentine federal court announced Wednesday that authorities had recovered the long-lost "Portrait of a Lady," an 18th-century work by the Italian painter Giuseppe Ghislandi that was looted by the Nazis in World War II and rediscovered when it appeared in an online real estate listing last month.

Before the presentation of the giant gold-framed portrait on Wednesday in the Argentine coastal city of Mar del Plata, the painting had not been seen publicly in 80 years.

The first-ever color photo of the portrait surfaced in a real estate listing unwittingly posted by one of the daughters of Friedrich Kadgien, the fugitive Nazi officer accused of stealing the painting from one of Europe's most prominent prewar art dealers and collectors.

"We're doing this simply so that the community to whom we partly owe the discovery of the work ... can see these images," federal prosecutor Daniel Adler said during a press conference to display the full-length portrait of Countess Colleoni, her hair ink-black and dress embroidered with pastel flowers.

"It was people from the community, specifically journalists, who prompted the investigation," Adler said.

Dutch journalists made the shocking discovery while investigating Kadgien's past in Argentina, where the high-ranking official fled after the collapse of the Third Reich, and later died in 1978.

News of the find thrilled historians the world over and eventually reached the heirs of the painting's original owner, Dutch-Jewish art collector Jacques Goudstikker. He died in a shipwreck after fleeing Amsterdam ahead of advancing German troops in May 1940.

His descendants have sought to recover an estimated 1,100 paintings missing since the forced sale of Goudstikker's extensive inventory to Adolf Hitler's right-hand man, Hermann Göring, who built up a major art collection during WWII.

The sudden reappearance of "Portrait of a Lady" last week was fleeting. Within hours of the story's publication in Dutch newspaper Algemeen Dagblad last Monday, the real estate listing was taken down. Police raided the rustic Mar del Plata home of Patricia Kadgien, the Nazi officer's daughter, but the painting wasn't there.

Authorities earlier this week raided other homes belonging to the Kadgien sisters in Mar del Plata, seizing paintings and engravings that they similarly suspected of having been stolen during the 1940s.

Argentina's federal prosecutor's office placed Patricia Kadgien and her husband under house arrest pending a hearing Thursday on charges of concealment and obstruction of justice.

Adler, the prosecutor, told reporters that the couple's lawyer had handed over the painting to authorities earlier Wednesday. He did not specify where the portrait would go next.

An art expert invited to assist with the investigation, Ariel Bassano, said the painting was being "stored in a special chamber" for safekeeping.

"It's in good condition given its age," Bassano said, dating the portrait to 1710 and valuing it at roughly $50,000.

It's not clear exactly how the painting came into the possession of Kadgien, who worked as a financial adviser to Göring.


Visual arts teacher Ariel Bassano speaks in front of a painting identified by Dutch newspaper AD as "Portrait of a Lady" by Italian baroque portraitist Giuseppe Ghislandi, which was allegedly stolen by the Nazis from a Dutch Jewish art collector, as it is displayed at the Public Prosecutor's Office in Mar del Plata, Argentina, on Sept. 3, 2025. STRINGER/AFP via Getty Images

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