PARIS – The burglars dashed out the back door with seven masterworks, then sped on screeching tires into the night. Now comes the hard part: The thieves have to unload the paintings, instantly recognizable pieces by Picasso, Matisse and Monet worth millions.
If the thieves who robbed Rotterdams Kunsthal exhibition this week dont have a plan, the stolen art could quickly become a burden. Paintings, sculptures and other cultural treasures can be hard to match with a buyer willing to overlook questionable provenance.
Just ask the trafficker who lucklessly tried for 20 years to sell a statue head of Neros mother stolen from Pompeii before its recovery was announced Thursday.
But experts say that for criminals with connections, its a low-risk, high-reward job, especially for lesser-known pieces.
Art theft is the third most lucrative crime in the world, after drugs and illicit arms sales, according to Interpol and the FBI. Films glamorize it, and the punishment for those who are caught is too light to be much of a deterrent.
Paintings have been buried, stashed in storage units, given as gifts to the unwitting, traded for drugs, held for ransom, hung on the walls of criminals, and sold on eBay.
Straight cash transactions appear to be rare – at least for high-profile thefts like the one in Rotterdam. Anyone legitimate enough to demand where a painting came from is going to come across it in news stories and databases of stolen artwork.
We either see artwork being recovered very quickly after the theft or decades later – very little in-between, said Chris Marinello, director of the Art Loss Register, whose job it is to track stolen art after the police trail has run cold.
Its been 22 years since the theft of $300 million in works from the Isabella Stewart Gardner Museum in Boston – the largest single property theft ever. The case is unsolved, and none of the 12 paintings has been recovered.
You steal a car, you steal a watch, theres a market for that. You steal a Rembrandt, you steal a Picasso, its too recognizable, said Geoffrey Kelly, the FBI agent leading the Gardner investigation.
That means many stolen works end up getting dumped. Five works stolen from the Paris Museum of Modern Art in 2010 may be gone forever.
According to one French report, the thieves couldnt quickly resell the works and their fence panicked after a series of arrests, destroying the canvases and throwing away the remains – a Picasso, a Braque, a Modigliani, a Matisse and a Leger.
In Ireland, IRA thieves plundered the art collection of Sir Alfred Beit in the 1970s, demanding ransom and freedom for political prisoners. Their demands werent met, and the works were found in the trunk of a car.
Despite the difficulty of fencing stolen art, it clearly can be done, especially by thieves with connections. Estimates range from $6 billion to $9 billion in global sales – a sign of both how lucrative the market is and how little known.