Art Investment

Kandinsky painting I would like the court to Rob German Bank

On the famous painting of 1907 "Colorful life" claimed by the heirs of the prewar owners. Now the painting is owned Bank of Bavaria, who rents it out to a Museum in Munich Lenbachhaus

the Claim about the painting Kandinsky was filed in new-йоркский court by descendants of Jewish collectors Emanuel Löwenstein (Emanuel Lewenstein). Lowenstein bought the work "the colorful life" shortly after it was written Kandinsky in 1907. This is one of the last important works of the figurative period of the artist.

After the death of the collector, his widow gave the painting for safekeeping to the Stedelijk Museum in Amsterdam, where it remained until the occupation of the Netherlands by Nazi Germany. By the time the widow of Emanuel Lowenstein has died and the owners of the paintings of Kandinsky become her children — Robert and Wilhelmina. Daughter Löwenstein in 1938 fled Nazi persecution in Mozambique, and Robert in 1939 for the same reason, emigrated to new-Йорк.

the Work of Kandinsky, along with other requisitioned from the Jews works to be auctioned at auction in Amsterdam in 1940. The heirs argue that the sale was made without the knowledge of the owners (Robert and Wilhelmina) and at a much lower price (the sale price amounted to Dutch guilders 250 — where-то 10-20% of real market value). No deductions at the auction, Lewenstein not received.

Further, in 1972 the work of Kandinsky was bought by the Bank of Bavaria (Bayerische Landesbank, BayernLB) — is one of eight state banks of the German länder. Moreover, the Bank got the job at the insistence of the municipal authorities of the city of Munich. Today, the "colorful life" of Kandinsky are free to take visitors to the state gallery Lenbachhaus.

That will be the case, if the heirs win the case for restitution, it is impossible to say for sure. Daughter of Robert Löwenstein, Francesca Davis (Anthony Davis), said that her family suffered from Nazi persecution and that this picture was important to them, and at the same time argues that Kandinsky was "an incredible genius" and his work — "a treasure that belongs to the world". According to the lawsuit in new-йоркском court evaluated this "treasure" of $80 million.


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