A painting stolen by the Nazis that was spotted in an Argentinian estate agent's advertisement has vanished, a prosecutor reports following a raid on the home.

The artwork, titled Portrait of a Lady by Giuseppe Ghislandi, was observed hanging above a sofa inside a property located near Buenos Aires, which belonged to the daughter of a senior Nazi official who fled Germany after the Second World War.

However, during the recent police raid, no painting was found, although two weapons were seized, according to federal prosecutor Carlos Martínez. He indicated that the situation is being treated as an alleged cover-up of smuggling, as per reports from the Argentinian daily Clarin.

After the raid, the furnishings in the home were notably rearranged, and the painting was missing from the wall. Peter Schouten of the Dutch Algemeen Dagblad newspaper, which initially reported on the artwork's resurgence, mentioned that there were indications it was removed shortly after its appearance in the media.

Martínez emphasized that the investigation would continue, especially since the painting was part of the heritage of Amsterdam art dealer Jacques Goudstikker, whose collection was extensively looted by the Nazis after his death.

Documentation suggests that the painting had been in the possession of Friedrich Kadgien, an SS officer, who moved to Argentina after the war and died in 1979. Mixed sentiments linger as Goudstikker’s heirs pursue the painting, aiming to reclaim artworks stolen from their ancestor's collection.