Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

£3 Million Moore Stolen for Scrap

May 19, 2009 by Marion Maneker

In a reverse of the “one-man’s-garbage-is-another-man’s-treasure” formula, a 10-ft. Henry Moore sculpture seems to have been stolen for its scrap value of a few thousand pounds, according to Bloomberg‘s Scott Reyburn:

“Last summer the cost of bronze was enormous. It went up about four times,” the U.K.-based sculptor Robert Mileham said in a telephone interview. In 2006, three of his bronze sculptures were stolen from gardens, said Mileham.[ . . . ] “Sculptures like this have still got a breakup value,” Robert Read, head of art and private clients at the London-based specialist insurers Hiscox, said. “From a thief’s point of view, 2,000 pounds is a good return for a night’s work.”

Works of art exhibited in open air were charged “significantly higher” insurance premiums and the cover might be “restricted,” he said in a telephone interview. “As soon as you put a work of art outside in a public space, it’s very likely to be stolen or vandalized,” Read said.

Charles Hill, the former head of Scotland Yard’s art and antiques squad from 1994 to 1996, said he was sure the Moore had been chopped up in pieces and shipped over to Rotterdam for scrap. Hill, who is now security adviser to the Historic Houses Association, said in an interview that it was clear the thieves did not care about the discrepancy between the art market and metal values. In his experience, works of art were never stolen to order. “It’s just too difficult to sell them. Big art collectors don’t want to be caught with hot paintings or sculptures,” said Hill.

U.K. Police Fear Thieves Sold $4.6 Million Moore Work for Scrap (Bloomberg)

More from Art Market Monitor

  • Understanding the Abu Dhabi Art FairUnderstanding the Abu Dhabi Art Fair
  • Not Interested in Naked BruniNot Interested in Naked Bruni
  • ABMiami: Toning Down & Spreading OutABMiami: Toning Down & Spreading Out
  • Gagosian: New York's Dominance WaningGagosian: New York's Dominance Waning
  • 2 x 200 Wants You to Own Art2 x 200 Wants You to Own Art
  • How to Make Your Art an InvestmentHow to Make Your Art an Investment

Filed Under: Fraud, Theft & Restitution Tagged With: Featured

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • Vienna Secession Painting, Long Thought to Be Lost, Sets a Record at Auction
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Restituted Van Gogh Portrait from London Collection to Sell at Christie’s
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Collection of Texas Heiress Anne Marion Expected to Fetch $150 M. at Sotheby’s
  • Roy Lichtenstein’s Top Ten Auction Prices
  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • Christie’s to Sell Its First Fully Digital Work of Art in Test of Emerging Market
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor