11 Picasso Lithographs Stolen from Portigon Vault in Düsseldorf

Eleven lithographs by Pablo Picasso were stolen from the vault of Portigon AG, a financial services company in Düsseldorf, North Rhine-Westphalia, Germany. The theft, confirmed by a company spokesperson last Friday, was reported by Spiegel. The insured value of the stolen works is estimated at €1.1 million, though their market value could be significantly higher. Also taken was a work by Gabriele Münter, a master of Abstract Expressionism. The theft reportedly occurred in the winter of 2014/2015, when employees discovered the vault open and twelve important works missing. Portigon, successor to the state bank WestLB, had a collection of about 380 pieces including works by Joseph Beuys, Gerhard Richter, Sigmar Polke, and Paul Signac. In 2014, the company had attempted to sell the collection, but the National Association of Art Historians opposed the sale, preventing its dispersal. The stolen works are now listed in national police records.