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Is stolen art worth more?
According to an excellent article in the New York Times Magazine, it is the desire of the original owners (and their insurers) to reclaim stolen artwork that makes them valuable. The author notes that the going rate for stolen art on the black market is around 7\% to 10\% of its full value.
How do you sell stolen artwork?
Try to Sell It Legitimately The Art Loss Register website. Thieves who fail to cash out from museums or insurers may attempt to sell their acquisition on the legitimate market, such as through auction houses or dealers.
What is the most expensive thing ever stolen?
The daring thief hid in a broom cupboard and snatched the painting when the museum was shut. Missing for two years, the Mona Lisa was recovered in 1913 and returned to the Louvre in 1914. Worth at least $2 billion (£1.55m) in today’s money, it’s hands down the most expensive individual object ever stolen.
What is the Mona Lisa worth today?
Today, in 2021, the Mona Lisa is believed to be worth more than $ 867 million, taking into account inflation. Leonardo Da Vinci painted the Mona Lisa between 1503 and 1506 AD.
Can you sell stolen art?
Stolen art can be a hard sell. We spoke to the experts about what thieves tend do with it. The FBI estimates that art crime is multi-billion-dollar-a-year illicit industry, and while much of it is made up of low order theft, the plundering of a museum never fails to steal headlines.
Why do robbers steal paintings?
Drug traffickers have been known to use stolen artwork for loan security, and artwork can be traded for weapons. In these cases, McKeogh says, “it is always hoped that the thieves know how to stabilize or care for what are usually fragile items.”
Why do people steal paintings if they can’t sell them?
James Ratcliffe, director of the Art Loss Register, said art thieves are “mostly motivated by the perceived opportunity to take something of significant value.” “What people don’t realize is that value doesn’t exist when something is stolen,” he said.