AUGSBURG, GERMANY - NOVEMBER 05: State prosecutor Siegfried Nemetz (L) and art historian Meike Hoffmann address the media regarding the seizure in 2011 of 1,500 paintings from Cornelius Gurlitt on ... more 
AUGSBURG, GERMANY - NOVEMBER 05: State prosecutor Siegfried Nemetz (L) and art historian Meike Hoffmann address the media regarding the seizure in 2011 of 1,500 paintings from Cornelius Gurlitt on November 5, 2013 in Augsburg, Germany. According to media reports that broke the story on October 3, Gurlitt's father, Hildebrand Gurlitt, was an art dealer who oversaw the confiscations of what the Nazis termed 'degenerate art' in the 1930s and 1940s, mostly from Jewish collectors. Cornelius, the son, now in his 80s, reportedly hoarded the works, which include paintings by Henri Matisse, Marc Chagall, Emil Nolde and Max Liebermann, among many others, that have been missing since World War II. The works are now at a customs warehouse outside Munich and have an estimated value of EUR one billion. (Photo by Johannes Simon/Getty Images) less 
1 / 30
Getty Images | Photo By Johannes Simon / Getty Images
Tue, Nov 5, 2013 5:47 AM EST