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Billionaire Notices Her Picasso Was Stolen After Eight Years

Pablo_Picasso_Based_On-1 A New York billionaire is suing to be reunited with her stolen Picasso, though it took several years before she realized it was missing.

Billionaire widow Wilma Tisch noticed the painting was missing a few years ago, but was unsure whether it was in storage or being repaired, and it wasn’t until she was informed that it was being put up for sale in Florida that she learned it had been stolen and took legal action.

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According to the New York Daily News, it seems the painting, a small 1928 portrait of Picasso’s mistress, Marie-Therese Walter, that’s valued at up to $1,000,000, was sold to an art investor for $60,000 by a housekeeper who is now living in Ecuador. It was then sold to a buyer, Kenneth Hendel, for some $500,000. The initial dealer claims he believed that the million-dollar painting had been given to the housekeeper as a gift. Hendel, who came to own it, says that he bought it fair and square, believing its owner to be the legitimate one. A judge ordered that the Picasso be returned to a New York storage facility, but it seems Hendel pressured the facility and is once again in possession of the disputed painting.

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Much of the media coverage of this story has focused on how incredible it is to not notice that a Picasso, presumably a prized possession, is missing for several  years. In fairness, the painting’s owner is very old and has an extensive art collection.

But that’s kind of the point. If you’re so rich and have so many treasures that the disappearance of valuable works of art can go unnoticed by you for years,then you probably have too much stuff.

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