Shadow of the Nazis overshadows major jewelry auction in Switzerland – 09/05/2023 – Market

Hundreds of jewels belonging to the late Austrian billionaire Heidi Horten went up for auction this month in a sale organized by Christie’s, which several organizations are calling for to be suspended due to her husband’s ties to the Nazis.

An NGO known for tracking down fugitive Nazi war criminals, the Simon Wiesenthal Center is opposed to the sale because Heidi’s husband, Helmut Horten, built his fortune in Germany during the Nazi regime, with which he was a sympathizer.

The proceeds from the sale of this collection, estimated at between US$ 150 million and US$ 200 million (R$ 745.3 million and R$ 993.8 million at current prices), will be donated to charity.

One of the main attractions of this auction of 700 jewels that belonged to Heidi Horten, who died in 2022, is a Cartier ring with a valuable ruby ​​”pigeon’s blood” weighing 25.59 carats.

The price of this alliance is estimated between US$ 15 million and US$ 20 million (R$ 74.5 million and R$ 99.3 million), explained Christie’s international jewelry director, Rahul Kadakia, at the presentation this Monday (8).

Of the total collection, 300 lots are offered online until May 15th. Less than 100 will be auctioned at Christie’s in Geneva on Wednesday (10) and another 150 pieces on Friday. The remaining pieces will be sold online in November.

According to the annual ranking of the richest people in the world prepared by Forbes magazine, Heidi Horten’s fortune totaled US$ 2.9 billion (R$ 14.4 billion). The source of money for Horten, who once owned one of Germany’s largest department store chains, draws criticism.

The Simon Wiesenthal Center and the American Jewish Committee (AJC) asked Christie’s to suspend the sale. The auction house said it had agreed to host the auction “as all proceeds from the sale will go to charity”.