Billionaire Art Dealer Loses Decade-Long Battle for Nazi-Looted Modigliani

New York court rules the painting belongs to heirs of Jewish owner from whom it was seized during WWII.

Apr. 6, 2026 at 9:52pm

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A photorealistic studio still-life photograph featuring a single elegant Modigliani painting in a simple wooden frame, resting on a clean, monochromatic background. The painting is the sole focus, using dramatic lighting and shadows to represent the complex history and ownership dispute behind this valuable work of art.A valuable Modigliani painting at the center of a decade-long legal battle over its rightful ownership is finally returned to the heirs of its original Jewish owner.NYC Today

Billionaire art dealer David Nahmad has lost his 11-year legal battle to retain ownership of a valuable 1918 Amedeo Modigliani painting that was looted from Jewish antiques dealer Oscar Stettiner during the Nazi invasion of France in World War II. A New York Supreme Court judge ruled that the painting rightfully belongs to Stettiner's estate, and ordered Nahmad to return the work, valued at up to $30 million.

Why it matters

This case highlights the ongoing efforts to repatriate art and cultural artifacts stolen by the Nazis during the Holocaust. It also raises questions about the responsibilities of art dealers and auction houses to thoroughly vet the provenance of valuable works they handle, even decades later.

The details

In 1996, Nahmad's holding company, International Art Center, purchased the Modigliani painting at auction from Christie's. In 2011, Philippe Maestracci, Stettiner's grandson, began legal action to recover the work. The court ruled that Stettiner had owned the painting prior to its unlawful seizure by the Nazis, and that he had never voluntarily relinquished it.

  • In 1996, International Art Center purchased the Modigliani painting at auction from Christie's.
  • In 2011, Philippe Maestracci, Stettiner's grandson, began legal action to recover the work.
  • On April 3, 2026, a New York Supreme Court judge ruled that the painting belonged to Stettiner's estate.

The players

David Nahmad

A billionaire art dealer who spent 11 years attempting to prove he was the rightful owner of the Modigliani painting.

Oscar Stettiner

A Jewish antiques dealer from Paris whose shop was looted by the Nazis during World War II, resulting in the theft of the Modigliani painting.

Philippe Maestracci

Stettiner's grandson, who began legal action in 2011 to recover the painting.

Mondex

A company that specializes in recovering looted art, and which aided Maestracci in his legal battle.

Joel M. Cohen

The New York Supreme Court judge who ruled that the painting belonged to Stettiner's estate.

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What they’re saying

“The evidence shows a straightforward and persuasive chain of ownership/right of possession flowing directly from Mr. Stettiner to Nazi seizure to a forced sale.”

— Joel M. Cohen, New York Supreme Court Judge

“Our client, Mr. Maestracci, is overwhelmed with joy and the satisfaction that after so many years the quest of his grandfather has finally been fulfilled.”

— James Palmer, Founder, Mondex

What’s next

Nahmad has been ordered by the court to return the Modigliani painting to Stettiner's estate.

The takeaway

This case highlights the ongoing efforts to repatriate art and cultural artifacts stolen by the Nazis during the Holocaust, and the responsibilities of art dealers and auction houses to thoroughly vet the provenance of valuable works they handle, even decades later.