The heir of a German-Jewish collector is suing the Guggenheim for the return of a prized Picasso painting—or $150 million:
. © 2012 Estate of Pablo Picasso/Artists Rights Society , New York. Photo: Kristopher McKay.
“[Adler] would not have disposed of the painting at the time and price that he did, but for the Nazi persecution to which he and his family had been, and would continue to be, subjected,” the filing reads. The couple planned to immigrate to Argentina and needed money to cover the cost of short-term visas and the Nazi-instituted flight tax. As part of an effort to liquidate his assets, Adler soldto Heinrich Thannhauser’s son, Justin Thannhauser, for $1,552—or roughly $32,000 today.“Thannhauser, as a leading art dealer of Picasso, must have known he acquired the painting for a fire sale price,” the suit says.
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