Jewels stolen by Nazis sold for $150m. profits donated to Jewish organizations - Reuters

 

by Reuters

The jewels were acquired by German department store tycoon Helmut Horten who, during the Nazi era, "purchased Jewish businesses that were sold under duress."

 

Sunrise Ruby and Diamond ring of 25 carats by Cartier and a 90 carat Briolette of India Diamond Necklace by Harry Winston, are seen during a preview of the 700-piece jewellery collection of the late Austrian billionaire Heidi Horten at Christie's before the auction sale in Geneva, Switzerland, May 8

(photo credit: DENIS BALIBOUSE/REUTERS)

The 700-piece private jewelry collection of the late Austrian billionaire Heidi Horten, the world's largest and most valuable collection of its kind to come to auction, could sell for more than $150 million, Christie's said on Monday.

Some of its most spectacular pieces include the 90-carat "Briolette of India" diamond necklace by Harry Winston, and the "Sunrise Ruby" and diamond ring by Cartier that is worth up to an estimated $20 million.

The collection, acquired between the early 1970s until Horten's death last year, is also comprised of more than 100 Bulgari pieces.

Horten's collection is set to exceed the record sales at Christie's for Elizabeth Taylor's collection in 2011 and the Maharajas & Mughal Magnificence auction in 2019, the only two jewelry collections to have garnered more than $100 million.

A Three Strand Natural Pearl Necklace by Harry Winston is seen during a preview of the 700-piece jewellery collection of the late Austrian billionaire Heidi Horten at Christie’s before the auction sale in Geneva, Switzerland, May 8, 2023 (credit: DENIS BALIBOUSE/REUTERS)

Christie's said the estate proceeds of the auctions would go towards the Heidi Horten Foundation, which supports charitable causes including in the fields of health care and child protection.

The jewel's dark history

Before agreeing to auction the collection, Christie's said it had considered the business practices of Mrs Horten's late first husband, German department store tycoon Helmut Horten, who during the Nazi era "purchased Jewish businesses that were sold under duress."

"What's important is that we have been completely transparent," Rahul Kadakia, international head of jewelry at Christie's, told Reuters.

"We are selling this collection in its identity with the name Horten. It's not being sold as an anonymous collection."

Giving back to Jewish organizations

Christie's said it would make a "significant contribution" from its final proceeds to Jewish organizations to advance Holocaust research and education. It did not disclose the amount.

"Of course we cannot erase history," said Max Fawcett, head of the jewelry department at Christie's in Geneva.

"But we hope that the funds from this sale will go to do good in the future."

Christie's will auction 400 pieces in Geneva on Wednesday and Friday and hold an online sale. It will hold a second online sale for the remainder of the collection in November.

Reuters

Source: https://www.jpost.com/diaspora/article-742401

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