Million Dollar Jewelry Auction Cancelled Over Links to Nazi-Era

Christie’s, one of the world’s leading auction houses, announced the cancellation of the final part of the highly contentious sale of over 400 pieces of jewelry. These very expensive gems once belonged to the late art collector, Heidi Horten.

The initial auctions which were held earlier this year, broke records by fetching a staggering combined sum of 179.9 million Swiss francs ($201 million) in May.

This sale was remarkable for being the most expensive private jewelry collection ever to sell at auction. The numbers fetched significantly surpassed Christie’s initial prediction of the collection’s value at over $150 million.

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However, the success of the auction was overshadowed by mounting criticism from Jewish advocacy groups and human rights organizations regarding the source of the Horten family’s wealth.

Heidi Horten, an Austrian billionaire and art collector, inherited a sizeable fortune from her former husband, Helmut Horten. According to sources, Helmut’s wealth was founded in Nazi Germany.

Christie’s initially described Helmut Horten as “a German entrepreneur and businessman” in press releases. However, they later acknowledged in its sale catalog that he had built his wealth by acquiring Jewish businesses “sold under duress.” This admission led to widespread condemnation.

Anthea Peers, Christie’s President of Europe, the Middle East, and Africa, announced the decision to cancel November’s online sale of approximately 300 items.

“The sale of the Heidi Horten jewelry collection has provoked intense scrutiny, and the reaction to it has deeply affected us and many others, and we will continue to reflect on it.”

Anthea Peers

Helmut Horten’s wealth accumulation was closely tied to Nazi Germany’s “Aryanization” laws. These practices resulted in the seizure of Jewish people’s property and assets, transferring them to non-Jews.

Consequently, Helmut Horten acquired several department stores previously owned by Jewish individuals during this period. He later gained recognition for introducing Germany’s first supermarket chain.

Prior to the auctions in May, the American Jewish Committee called for the sale to be postponed until a thorough investigation was conducted into the Hortens’ wealth.

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Reacting to Christie’s decision to cancel the final sale, the group expressed its relief on social media, emphasizing that the first auctions “should have never taken place.” The Holocaust Art Restitution Project, a Washington D.C.-based research and advocacy group, lauded the decision as “a win for Holocaust survivors.”

Christie’s initially stated that proceeds from the jewelry auction would benefit the Heidi Horten Collection. This is an art museum established by the collector in Vienna, Austria, prior to her passing in 2022. Additionally, the funds were earmarked for medical research and philanthropic activities.

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Following the outcry from Jewish organizations, Christie’s also pledged a “significant” donation from the proceeds to support Holocaust education and research.

Forbes had reported Heidi Horten’s net worth at approximately $3 billion at the time of her passing in June of the previous year. She had inherited $1 billion from her former husband, Helmut, after his death in 1987.