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The working titles of this film were The Aspern Papers and The Lost Love. According to a Hollywood Reporter news item, producer Walter Wanger paid $200,000 for the screen rights to Henry James's novel The Aspern Papers. In 1953, Hollywood Reporter reported that Bank of America had gained control of The Lost Moment when it foreclosed on the mortgage from Walter Wanger Pictures, Inc. The Lost Moment was the only film directed by theatrical director and actor Martin Gabel.