The Market: Among the Missing

For some reason that neither parlor detectives nor cocktail-party psychiatrists have been able to decipher, Britain is experiencing an esthetic crime wave this year.About $2,424,000 worth of paintings and sculpture have been removed from the homes of collectors. Last week's victim was Sir Roland Penrose, chairman of the Institute for Contemporary Arts, friend and biographer of Pablo Picasso. While Penrose was away, burglars broke into his London home, removed 25 paintings with an estimated value of $720,000. The prize was Picasso's 1937 Woman Weeping.

Well-known works such as Penrose's are difficult for...

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