A Pablo Picasso painting now valued at $100-$200 million was sold for a song when its longtime owners fled the Nazis in 1938.
A Pablo Picasso painting valued today at up to $200 million was sold for a song by a Jewish couple desperate to flee the Nazis in 1938 — and now the heirs want it back from the Solomon R. Guggenheim Foundation.was gifted to the Guggenheim decades ago by the art dealer who paid a desperate Karl and Rosi Adler a measly $1,552 for it as they escaped the Holocaust, according to a Manhattan Supreme Court lawsuit filed Friday.
He’d purchased “Woman Ironing” in 1916, from then-prestigious Munich gallery owner Heinrich Thannhauser. “The Adlers needed large amounts of cash just to obtain short-term visas during their exile in Europe. Unable to work, on the run, and not knowing what the future would hold for them, the Adlers had to liquidate what they could to quickly raise as much cash as possible,” according to court papers.
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