Jeffrey Gundlach Offers $1.7 M. Reward for Stolen Art, ‘No Questions Asked’

 Jeffrey Gundlach Offers $1.7 M. Reward for Stolen Art, No Questions Asked

Gundlach. (Courtesy Investmentnews.com)

Famed bond investor Jeffrey Gundlach lost some $10 million last week when thieves broke into his Santa Monica home and stole select pieces from his art, watch and wine collections, along with his 2010 Porsche Carrera 4S. As news of the burglary broke, Mr. Gundlach offered a $200,000 reward for any information leading to the return of his stolen property. Now, according to the Financial Times, he’s increased the bounty for his art to $1.7 million in total.

Here’s the Los Angeles Times with some information on what was stolen:

The haul included one-of-a-kind art, including works by Jasper Johns and Piet Mondrian. Among the items taken were paintings by Expressionist artist Richard Diebenkorn, Impressionist Guy Rose and landscape artist Hanson Duvall Puthuff. There were also abstract Expressionists in the mix, including Franz Kline and Philip Guston.

And here’s the FT on how you can claim your reward if you or your friends stole the stuff:

A $1m reward for a 1936 abstract geometric work by Piet Mondrian, “Composition (A) En Rouge Et Blanc”, is one of the largest ever offered for the return of an individual artwork.

The founder of DoubleLine Capital, which has $48bn in assets under management, announced the reward at a press conference in Los Angeles on Monday. In addition to the $1m bounty, he has offered $500,000 for two pieces by Jasper Johns and Jasper Cornell and $200,000 for the remainder of the stolen art collection.

The FT notes that this sum is approaching the record for highest ever reward for information leading to the retrieval of stolen art. That sum is $5 million, from Boston’s famous Isabella Stewart Gardner heist of 1990.