Collection of 1500 Modern Works Seized by German Police, Estimated at Over $1.3 Billion

November 4th, 2013

Munich Apartment where Paintings Were Found, via TelegraphA collection of 1,500 works, valued at over $1.3 Million, has been seized by the German Customs Agency in Munich after a raid on the son of an elderly Nazi associate.  The works, which include pieces by Max Beckman, Picasso and Matisse, were looted from Jewish owners in the years before and during World War II, with the intent of building an enormous museum for them in Austria.  “We went into the apartment expecting to find a few thousand undeclared euros, maybe a black bank account,” says one Customs spokesman. “But we were stunned with what we found. From floor to ceiling, from bedroom to bathroom, were piles and piles of old food in tins and old noodles. Behind it all these pictures worth tens, hundreds of millions of euros.”

Read more at The Telegraph