A rare Pablo Picasso etching believed to be lost for good after its theft in 2018 has been recovered in Milwaukee, offering an unexpected breakthrough in a long-running art theft case.
Stolen Picasso etching – Torero – found after 8 years
Gallery owner and appraised Bill DeLind said he was contacted by police last week after a local landlord discovered the framed artwork while cleaning an apartment that had been vacated following an eviction. The piece was immediately recognisable as Torero, a signed etching with only around 30 known copies in existence.
DeLind said Friday, “I was overwhelmed. I was at a loss for words. It was an overwhelming moment for me.”
DeLind said the artwork still carried the original sticker from his former business, DeLind Fine Art Appraisals, on the back of the frame.
“It was indeed mine. It came back full circle,” said De Lind.
The discovery was made by landlord Tim Dertz , who noticed the framed print hanging in an unsual spot inside the apartment.
Dertz told the station, “It was kind of in a weird spot hanging on a wall. It looked like it had been there for a long, long time because it had tons of dust across the top of it.”
Suspecting it might be valuable, Dertz showed the piece to an antique dealer friend, who identified it as a Picasso and believed it matched the artwork reported stolen from DeLind’s gallery in 2018. Dertz then handed the print to the police, who contacted the gallery owner.
“When they called me, I was in disbelief,” DeLind said.
The etching was valued between $35,000-$50,000 at the time it was stolen. DeLind believes its market value has remained broadly similar, although he said its remarkable recovery story could place it closer to the upper end of that estimate.
The artwork remains in the custody of the Milwaukee police while its owner, who has consigned it to DeLind’s gallery for sale , resolves insurance matters. Police said the investigation into the theft is ongoing, despite Wisconsin;s general six-year statute of limitations for and property crimes.
DeLind also reflected on his late business partner, who died in February and had never given up hope of recovering the . Every year on the anniversary of the theft, he would contact the police urging them to the publicise the case once again.
DeLind said, “He would have been over the moon about this. It was special to him.”
The recovered Picasso remains in police possession as investigators continue examining how the artwork ended up in the vacant apartment.
