Italian authorities seize valuable Caravaggio painting valued at $6.2 million
Italian authorities announced the recovery of a priceless painting by the renowned Italian artist Caravaggio, estimated to be worth around €6 million ($6.2 million). The masterpiece was one of several artworks stolen from a museum in Milan last year, marking a significant victory in the art world's fight against theft.
Spanish police announced on Thursday that they successfully found a painting by the late artist Francis Bacon. The artwork, titled “Study for Portrait of José Capelo” from 1989, is valued at around €5 million. This painting was one of five stolen from a home in Madrid back in 2015.
Out of the stolen paintings, this particular piece is the fourth one to be recovered by the authorities. In total, the group of paintings is estimated to be worth a combined €25 million.
The recovered painting is worth an estimated €5 million.
The recovered painting is worth an estimated €5 million.
In February, two people were arrested by the Spanish police for receiving stolen artworks in Madrid. This led to the discovery of the painting at a property in the city.
Since the investigation began, 16 people believed to have masterminded and carried out the robbery have been arrested, police said in a statement.
Study for Portrait of Lucian Freud
Study for Portrait of Lucian Freud
Courtesy Sothebys
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In 2017, three paintings were successfully recovered.
The police are currently investigating Spanish citizens who have connections to organized groups from Eastern Europe. They hope that this investigation will eventually lead them to the fifth painting.
Local media reported that the paintings were taken from the home of José Capelo, a close friend and former partner of Bacon. The police did not confirm or deny this information.
Bacon, originally from Dublin, passed away in Madrid in 1992. He was highly regarded as one of the top artists of the 20th century, famous for his unique and unsettling portrayal of the human form. Over the years, his reputation has continued to rise, along with the value of his artwork in the art world.
Editor's P/S:
The recovery of Francis Bacon's "Study for Portrait of José Capelo" is a testament to the unwavering efforts of the Spanish police in combating art theft. This significant artwork, valued at around €5 million, was one of five stolen from a Madrid home in 2015. With the arrest of 16 individuals believed to be involved in the robbery, the authorities have made substantial progress in dismantling the criminal network behind this brazen act.
The investigation into the remaining stolen paintings continues, with the police focusing on Spanish citizens linked to organized groups from Eastern Europe. The determination of the authorities to recover all the stolen works is commendable, as it not only helps restore justice for the victims of art theft but also preserves the cultural heritage of Spain and the legacy of one of the most influential artists of the 20th century.
