Nazi Loot At Auction
A disputed artwork by Russian artist Wassily Kandinksy will be auctioned at Christie’s next week after the grandchildren of a collector, who said it was stolen from her by the Nazis, agreed to share the sale proceeds with the current owner.
The 1923 abstract painting Zwei Schwarze Flecke will be auctioned in New York at Christie’s Impressionist and Modern Art evening sale on Nov 7, 2012, where it is estimated to fetch US $1.8 mil - 2.4 mil.
The Kandinsky work once belonged to Sophie Lissitzky- Kueppers, a German art historian. Her grandchildren say the watercolor was one of 16 works that Lissitzky-Kueppers loaned to Hanover’s Provinzialmuseum. Those works were later seized by Nazis and termed “degenerate,” reports Bloomberg.
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