Editor’s Note
This article discusses the upcoming auction of a $150 million jewelry collection linked to a billionaire who collaborated with the Nazi regime. While the proceeds are designated for medical research, the sale has reignited debate over the ethical implications of profiting from wealth of such origins.
A collection of rare jewelry valued at approximately 200 billion won (around $150 million), amassed by a billionaire who collaborated with the German Nazis, is set to be auctioned. While the proceeds are planned to go to a foundation supporting medical research, the controversy surrounding the origin of the seller’s wealth has also resurfaced.
According to an AFP report on April 30 (local time), over 700 pieces of jewelry owned by the late Austrian billionaire Heidi Horten will be auctioned by Christie’s in the United States in May. The collection features items from renowned brands such as Cartier, Harry Winston, Bulgari, and Van Cleef & Arpels, with an estimated value reaching $150 million (approximately 201.1 billion won). Some auction officials speculate this sale could break the record set by the 2011 auction of actress Elizabeth Taylor’s collection, which fetched $154.2 million.
The controversy stems from the Nazi-era origins of Heidi Horten’s inheritance. Her husband, Helmut Horten, a Nazi party member, began accumulating his fortune in 1936 by purchasing a textile factory left behind by Jews fleeing Germany. He went on to acquire Jewish-owned department stores and other businesses at low prices. After Germany’s defeat, Helmut was expelled and died in Switzerland in 1987. He never publicly disclosed the details of his wealth accumulation, raising longstanding suspicions.
The controversy continued after Heidi inherited Helmut’s fortune. Last year, she hired historians to investigate her husband’s business dealings. Heidi’s side released findings claiming that while Helmut did profit from buying companies from Jews under pressure from the Nazis, the transactions were relatively fair.
David de Jong, author of a book on Nazi billionaires, pointed out to The New York Times:
Proceeds from the auction will go to the Heidi Horten Foundation, established in 2011, which supports medical research and museum operations. In response to criticism, Christie’s has added context to the auction description, acknowledging that Helmut Horten’s wealth involved “the purchase of companies sold by Jews under duress.” The auction house also stated that a portion of the sale proceeds will be donated to Holocaust research and education.
