Four Thieves Steal $140 Million in Royal Jewels from Museum... High-Value Cultural Assets Targeted [News Seolcham]

Global Cultural Assets Sold After Being Laundered on the Black Market
Interpol Tracking More Than 57,000 Stolen Items

Editor's Note'Seolcham' is a newly coined term meaning "please refer to the explanation for more details." In [News Seolcham], we highlight parts of the news that require fact-checking or further explanation and provide more detailed insights.

After a four-member theft ring swiftly stole royal jewels from the Louvre Museum in Paris, France, high-profile cases of stolen cultural assets and artworks-which have shocked the world throughout history-are once again drawing public attention. Because the value of artworks tends to increase over time, they have long been prime targets for audacious criminals seeking to launder money.

Criminal Organizations Targeting Cultural Assets... Damages Up to $500 Million

The crown of Empress Eug?nie de Montijo, wife of Napoleon III, exhibited in the Apollo Gallery of the Louvre Museum in Paris, France. Photo by AFP Yonhap News

According to the official website of the International Criminal Police Organization (Interpol) as of the 25th, there are currently over 57,000 stolen cultural assets recorded in its database. Interpol stated, "Eight jewels stolen from the Apollo Gallery of the Louvre Museum have also been integrated into the database," and requested, "If you have any information on the current whereabouts of the stolen items, please contact Interpol."

On the 19th (local time), a four-member gang broke into the Apollo Gallery of the Louvre Museum. Entering through a window using a ladder truck, they stole nine items, including a crown from the era of Emperor Napoleon, jeweled necklaces, and brooches. One crown, dropped during their escape, was recovered but found damaged, while the whereabouts of the remaining eight items remain unknown. The Paris Prosecutor's Office estimated the loss from this theft at 88 million euros (approximately 146.3 billion won).

Vincent van Gogh's "Blooming Chestnut Branches," painted in May 1890. One of van Gogh's final works, it was stolen by thieves but successfully recovered thanks to the persistent investigation by the Swiss police. Art Crime Blog

In the past, there have been continuous cases of theft and robbery targeting high-value cultural assets. In 2008, three armed robbers broke into the Emil Buehrle Museum in Switzerland and stole several cultural artifacts.

Emil Buehrle, a businessman of German origin, amassed his collection by selling weapons to Nazi Germany during World War II. The armed gang made off with four masterpieces by renowned artists such as Vincent van Gogh, Claude Monet, and Edgar Degas. The loss was valued at $164.4 million (about 235.5 billion won), making it one of the largest cultural property thefts in European history. However, Swiss police, in cooperation with various European investigative agencies, succeeded in recovering all the stolen works after four years.

Thirteen stolen paintings (left) and a composite sketch of the suspect from the Isabella Stewart Gardner Museum. The Federal Bureau of Investigation (FBI) is still tracking the paintings. FBI website

The largest art heist in history remains the 1990 theft at the Isabella Stewart Gardner Museum in Boston, United States. Disguised as police officers, two thieves cut thirteen works-including pieces by Rembrandt, Manet, and Degas-out of their frames and stole them, with the total value estimated at $500 million (about 716 billion won).

Unlike the Buehrle Museum case, the two thieves were never caught, and the stolen works remain unrecovered to this day. In 2021, the Federal Bureau of Investigation (FBI) announced a reward of up to $10 million (about 1.43 billion won) for information leading to the recovery of the artworks.

Laundering on the Black Market... International Agencies on the Trail

Experts point to the black market for art as the underlying reason why criminals plunder cultural assets. The art-specialized media outlet "Artist Weekly" explained, "Stolen artworks and cultural assets become targets for collectors who prioritize ownership over legality," adding, "Such demand has led to the formation of highly lucrative illegal black markets around the world." The FBI and others estimate that the international stolen art black market is worth up to $6 billion.

Stolen cultural assets are laundered as they cross multiple national borders. During this process, transaction and sales records are forged to conceal the original provenance of the items. Once laundered, these cultural assets are sent to auction houses, where they are sold at high prices. The outlet noted, "Unlike ordinary goods, cultural assets tend to increase in value over time," and added, "Their portability and high value make them attractive as collateral for criminal organizations." There have also been cases where such assets are used to fund weapons purchases by large criminal syndicates or illegal terrorist groups.

On the 19th (local time), the International Criminal Police Organization (Interpol) registered eight unrecovered jewels from the Louvre Museum in the "Stolen Artworks Database." Interpol

For this reason, global investigative agencies such as the FBI and Interpol operate dedicated teams focused solely on tracking stolen cultural assets. The FBI has an "Art Crime Team," while Interpol operates a "Cultural Heritage Unit." In particular, Interpol collaborates with museums and investigative agencies worldwide to build a database of stolen artworks, comprehensively tracking all information on cultural assets lost to theft.