€1bn of art looted by Nazis found in rundown Munich flat

Media reports claim that looted artworks worth around €1bn were found in Munich, Germany.

14:52 04 November 2013

A collection of 1,500 looted artworks which include pieces by acclaimed artists such as Matisse and Picasso valued around €1bn was found in a rundown apartment block in Munich, Germarny.

Reports claim that the artworks were found stashed in the apartment after they were seized by the Nazis during the Second World War.

Custom officials confirmed that the 1,500 paintings were found in the apartment of an art dealer who collected the artwork between 1930 to 1940. If confirmed, this will be considered one of the largest recoveries of looted art in history.

Reports added that the discovery took place in early 2011 when authorities were investigating Cornelius Gurlitt for tax evasion. Investigators explored his house after obtaining a search warrant. There, they’ve discovered the artworks, which had vanished from sight during the Nazi era.

60 years after the end of the Second World War, looted art is still being discovered in different parts of the world with descendants of owners trying to trace pieces that once belonged to their family.