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April 12, 2012 10:50 am

Heir to Famous German Art Dealer Reaches Agreement Over Stolen Nazi Work

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The Kunstmuseum in Bonn.

Business Week – A Bonn museum settled a claim for a painting by Paul Adolf Seehaus with the heir of Alfred Flechtheim, one of Germany’s most prominent modern-art dealers until he fled Berlin and the Nazis in 1933.

The Kunstmuseum in Bonn said in a statement today it will pay half the estimated market value to keep the painting, “Lighthouse With Rotating Beam,” which it described as “an important work of Rhineland expressionism.” The museum didn’t cite a figure for the value of the work.

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