Police in Spain recover stolen Francis Bacon artwork valued at $5.4 million.
A study from 1989 for José Capelo's portrait, the fourth art piece reclaimed from the thieves, is valued at around €25 million. This was discovered after two arrests were made in Madrid in February regarding the receipt of misappropriated artworks.
As the police investigation progressed, sixteen individuals thought to be involved in planning and executing the robbery have already been taken into custody, as per their official statement.
Three out of the four stolen artworks were found in 2017. While these individuals are being pursued, the authorities are also looking into potential connections between Spanish citizens and Eastern European criminal networks, with the hope of recovering a fifth painting.
The paintings allegedly missing from José Capelo's apartment were not explicitly mentioned by the authorities, but sources report that he was a close friend and ex-lover of famous artist Francis Bacon. Bacon, born in Ireland and passing away in Madrid in 1992, was renowned for his unsettling portrayal of the human body and maintains a strong presence in the art world even after his death. The demand and valuation for his works continue to rise.
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The investigation into the art theft revealed potential links between Spanish citizens and Eastern European criminal networks, with the aim of recovering more works in a similar style as Francis Bacon's. Francis Bacon's artistic style, known for its unsettling portrayal of the human body, continues to be influential in the contemporary arts scene.
Source: edition.cnn.com
