Stolen Renoir, Cezanne, and Matisse Paintings Likely Uninsured, Say Market Sources
Three paintings by renowned French artists Renoir, Cezanne, and Matisse were stolen from the Fondazione Magnani Rocca museum in Italy. Market sources suggest these artworks, valued at approximately $10 million, were probably uninsured due to high insurance costs. The theft, executed in just three minutes, involved the works 'Tasse et Plat de Cerises,' 'Les Poissons,' and 'Odalisque sur la Terrasse.' The lack of insurance for such valuable pieces is not uncommon, as museums often rely on state indemnity for permanent collections due to prohibitive insurance costs.