Explaining Southern California's economy

L.A. bond king Jeff Gundlach ups reward for stolen art to $1.7 million

SANTA MONICA BURGLARY

Courtesy of Santa Monica Police Department

An assortment of fine art paintings, some pictured here, were among the loot stolen from a Santa Monica home last week. Owner Jeff Gundlach has offered $1.5 million in addition rewards for the Piet Mondrian and the Jasper Johns.

UPDATE: Actually, it's $500,000 for the Jasper Johns PLUS several works by Joseph Cornell. No questions asked! Just give me back my art, says Jeff Gundlach. Some very nice works, I must say.

 

At a press conference today, DoubleLine Capital CEO Jeffrey Gundlach announced a substantially increased reward for information related to stolen two paintings from a recent $10-million heist at his home in Santa Monica.

Gundlach had already offered a $200,000 reward, but today he added to that, offering $1 million for information related to or the intact return of "Composition (A) en Rouge et Blanc," painted in 1936 by Dutch modernist master Piet Mondrian; and $500,000 for a work by Jasper Johns from 1956 titled "Green Target."

Both paintings can be seen here.

Gundlach may very well be concerned that, as highly collectable fine art is a difficult thing to sell when stolen, the theives may destroy the paintings they made off with.

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