Vermeer's The Concert

Vermeer's The Concert

Wednesday, September 30, 2009

Stolen Art Watch, Pebble Beach Art Theft, Double Bubble, Toil and Trouble !!!

More art reported stolen during Pebble Beach heist

Inventory reveals 25 to 30 missing pieces with combined worth of $60 million to $80 million

Last week's big Pebble Beach art heist got bigger Tuesday.
A spokesman for two business partners renting a home in Pebble Beach who reported that 13 pieces of art worth $27 million were taken in a Friday burglary said the number of missing pieces has doubled as the victims inventoried their losses.

Chris Marohn, spokesman for Dr. Ralph Kennaugh, a retired Boston radiation oncologist, and business partner Angelo Benjamin Amadio said the inventory was about 75 percent complete, and the number of missing pieces stands at 25 to 30 with a combined worth of between $60 million and $80 million.

The victims said the artwork was shipped to their Sunridge Road home about two months ago as they made plans to buy land and build in Carmel Highlands. Artwork was missing from the garage and the main house at the residence, Marohn said.

In their original report, the victims said the stolen pieces, which included works by Miro, Rembrandt, Van Gogh and Jackson Pollock, were worth about $27 million. Some of the items were insured, but most were not, Marohn said.

Amadio previously said they had not insured the pieces because it would have cost millions to insure the extensive collection. Marohn said Tuesday the men have contacted their insurance company and put in claims, but he wouldn't say for how much.

On Monday, the art collectors offered rewards of $1 million for the return of their artwork and $5 million for information leading to arrests and prosecutions of people

involved in the alleged theft.
Amadio said he thought the thieves were professional art thieves who knew about their collection and most likely had customers lined up in the art world's black market. The two men assembled the collection during the early part of the decade when they had a Boston gallery, he said.

Marohn said, "We have received a couple phone calls, and we have forwarded those phone calls to the Monterey County Sheriff's Office. I have no idea how promising they look."

He said the art theft was reported to the FBI, which advised the victims to contact Interpol and private investigators.

FBI offices in San Francisco and Watsonville didn't respond to phone messages from The Herald.
Sheriff's Office spokesman Cmdr. Mike Richards said early Tuesday that deputies were at the Pebble Beach home "working on the scene." He said there were reports a window was pried open to gain access to the home.

"We're treating it at face value on what was reported to us," he said.

Later in the day, Richards said, "We have nothing new to report, but the investigation is progressing."

Marohn said Amadio and Kennaugh "don't believe they will ever see" the stolen items again. Other pieces in their collection were being transferred to a secure location Tuesday, he said.

He said the victims remain at the house, but are scouting for other locations on the Central Coast.

Amadio is the president of a recently incorporated investment company that he said specializes in high-value assets, including property, artwork and gems.

In an e-mail Monday, he said the two men hoped to start an auto museum in the Monterey area within a few years and display much of their artwork there.

Marohn said people who knew the men through their gallery have expressed concern about the massive theft. Others have been less kind, he said, saying, "It's our fault."

He said Amadio and Kennaugh's main goal was to alert police and the media "to get the word out that we want it back."

Larry Parsons can be reached at 646-4379 or
Art Hostage Comments:

I realise I shouldn't strut, but this case is about to be cracked !!!!!
O'h, the ransom note, that's old news, keep up !!
Better be quick if you want a piece of the reward.
Just like an episode of Columbo, Art Hostage has solved this case in 60 minutes !!
Expect one or more of these stolen artworks to mysteriously turn up shortly and that will be followed by the disclosure one of the victims has secretly paid a ransom and recovered some of the stolen art without Police involvement.
That will be followed by a potential prosecution of both victims for paying the ransom.
In the meantime the thieves identity is known to the Police but they cannot recover the rest of the stolen art and have no direct evidence against the thieves or who organised the theft.
Then the delicate negotiations commence to make an Art Hostage, arrest free, ransom free, recovery.
Contact Art Hostage:

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