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Helmut Horten

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business2 years ago•6 min saved

Christie's faces backlash over sale of Nazi-linked jewelry collection.

Christie's is facing criticism for auctioning off jewelry from the collection of the late Heidi Horten, whose husband, Helmut Horten, built his fortune by purchasing businesses from German Jews who were forced to sell during World War II. The collection, which includes a sapphire and diamond necklace with an estimated sale price of $1.5 million, is expected to gross $150 million. While none of the jewels were looted during the war, the origins of the Horten fortune have raised ethical concerns. All proceeds from the sale will be directed to a foundation that supports philanthropic causes.

via New York Post |

#business #christies #heidi-horten

business2 years ago•2 min saved

Controversial Jewelry Collection of Nazi Sympathizer Up for Auction at Christie's.

Christie's will auction a jewelry collection valued at $150 million, once owned by Helmut Horten, who made a fortune buying businesses from Jews who were forced to sell in Nazi Germany. The collection has more than 700 pieces and includes the "Briolette of India" necklace, which has a 90-carat diamond with an estimated value of $7.8 million. Despite the painful history, Christie's decided to host the items, and the Helmut Horten Foundation is now a key driver of philanthropic causes. The collection's estimated value surpasses that of Elizabeth Taylor's jewelry collection, which sold for $137 million in 2011.

via Insider|

#auction #business #christies