Steven Fusco of Estates Unlimited was forced to make a tough call during the auction house’s first serious Fine Art sale as the anticipated top lot was revealed to be stolen Nazi art. According to the auction gallery, the dramatic and compelling oil on canvas by German genre and portrait artist Francois Winterhalter (German, 1806-1873) had been identified by the Art Loss Registry. The Winterhalter had reportedly been the property of renowned German art dealer Max Stern. Stern had a gallery in Germany, and was forced by the Third Reich to sell his works at a fraction of their value at a Nazi friendly art gallery in Cologne. It had been purchased there by a relative of the consignor. “We had a customer who was actually en route to the auction from California, who stated that he was willing to go to $150,000 for the Winterhalter,” said a frustrated Fusco. “Legally, we weren’t obligated to withdraw the painting, but we felt morally obligated to do so.”
11 Jan 2005 / 0 Comment
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