Moore sculpture likely melted down for scrap
This article, from Bloomberg.com, reports that U.K. police fear that a Henry Moore sculpture stolen three years ago may have been melted down for scrap metal. The sculpture was estimated to be worth 3 million pounds, and if sold for scrap, would net 2500 pounds.
An excerpt from the article:
“There was a wave of thefts of statues around the time the Moore was stolen,” Dick Ellis, director of the Art Management Group, a U.K.-based company that advises art collectors on security issues, said in an interview. “There is an increase in the theft of statues at the moment,” said Ellis, a former head of Scotland Yard’s art and antiques squad.
Thefts have pushed up the cost of insuring art, said insurance professionals. Contemporary-art prices have dropped 30 percent to 50 percent over the last eight months, as wealthy clients refrain from making purchases in the economic slump, while the value of scrap metal has risen this year because of demand from China.
To read the full article, click here.
2 years ago | Tags: henry moore stolen sculpture art theft reclining figure moore foundation art crime
