IndependentsApr 10, 2023
New Play Tells Story of Pittsburgh Jeweler Who Survived the HolocaustAuctionsMay 01, 2023
NY Times Examines Nazi Ties to Heidi Horten Fortune Ahead of Jewelry Auction
The story details how the late billionaire’s husband, Helmut Horten, built his company by buying Jewish businesses during Nazi persecution.
The 90-carat “Briolette of India” diamond necklace is part of Christie’s upcoming auction of the jewels of late Austrian billionaire Heidi Horten. A recent New York Times report detailed how her husband, Helmut Horten, profited from the forced sale of businesses owned by Jewish people during Nazi persecution.
New York—Christie’s is set to auction off the jewels of late Austrian billionaire Heidi Horten this week, calling it the largest and most valuable private jewelry collection ever to come to auction.
However, a New York Times report about the provenance of Horten and her husband’s wealth is dulling the sale’s sparkle.
Helmut Horten was the late German billionaire behind the now-closed Horten’s chain of department stores.
Heidi met Helmut, who was more than three decades her senior, at the age of 19. They wed in 1966, and he died in 1987, leaving her close to $1 billion.
The Times report details how he built up his company by buying businesses from Jewish owners who were forced to sell them by the Nazis.
“He laid the foundations of his wealth during the Third Reich by acquiring companies on the cheap at fire-sale prices from Jewish business owners under duress,” David de Jong, author of “Nazi Billionaires: The Dark History of Germany’s Wealthiest Dynasties,” told the Times.
After purchasing a department store in 1936 from Jewish owners at an allegedly below-market rate, Helmut was said to have taken out an ad in a Nazi party newspaper, announcing the store was now under “Aryan ownership.”
Related stories will be right here …
However, a New York Times report about the provenance of Horten and her husband’s wealth is dulling the sale’s sparkle.
Helmut Horten was the late German billionaire behind the now-closed Horten’s chain of department stores.
Heidi met Helmut, who was more than three decades her senior, at the age of 19. They wed in 1966, and he died in 1987, leaving her close to $1 billion.
The Times report details how he built up his company by buying businesses from Jewish owners who were forced to sell them by the Nazis.
“He laid the foundations of his wealth during the Third Reich by acquiring companies on the cheap at fire-sale prices from Jewish business owners under duress,” David de Jong, author of “Nazi Billionaires: The Dark History of Germany’s Wealthiest Dynasties,” told the Times.
After purchasing a department store in 1936 from Jewish owners at an allegedly below-market rate, Helmut was said to have taken out an ad in a Nazi party newspaper, announcing the store was now under “Aryan ownership.”
Heidi reportedly hired historian Peter Hoeres last year to look into her husband’s past.
In a report, he concluded that while Helmut did benefit from buying businesses from Jewish owners, to say he built his wealth that way is an exaggeration.
Some have taken issue with the report’s characterization of Helmut as merely a savvy businessman who was taking advantage of the situation at hand, rather than someone who supported Nazi ideology.
Stephanie Stephan, a Munich-based journalist and author, told the Times that her father, Reinhold Stephan, was on the board of a Jewish company forced to sell to Horten, and claimed one of the owners was threatened with deportation to a concentration camp if he refused to sell.
Historian Hoeres refuted the accuracy of that claim, citing a lack of records to support it.
In a statement, Christie’s CEO Guillaume Cerutti said: “It was never Christie’s intention to hide information about the well-documented history of Mr. Horten and we have added relevant information to our sale materials and website to ensure that the facts are clear to all.”
There was no mention of Helmut’s Nazi ties in the initial marketing materials surrounding the sale.
Cerutti added that Christie’s will be donating a “significant” portion of the final sale proceeds to an organization that furthers Holocaust research and education.
Anthea Peers, president of Christie’s Europe, Middle East and Africa, told the Times that Christie’s was aware of the “painful history,” but weighed that against “various factors,” noting the proceeds will be donated to charity.
The auction house estimates “The World of Heidi Horten” sale will fetch $150 million, surpassing the auction record set by the sale of Elizabeth Taylor’s private collection in 2011 (total: $137.2 million).
The sale of Horten’s jewels will benefit The Heidi Horten Foundation, which supports her art museum, The Heidi Horten Collection in Vienna, and other causes.
“Please know that we have engaged in both thoughtful and constructive conversations with those who have reached out to us to openly address their concerns,” said Peers in a statement to National Jeweler.
“At the same time, we appreciate our clients’ and colleagues’ candor about the way Christie’s is handling the auction and their support of our efforts to enhance transparency. “
Mark Schonwetter, the former owner of bridal jewelry company Lieberfarb and co-founder of the Mark Schonwetter Holocaust Education Foundation, shared his perspective with National Jeweler.
“These jewels were acquired through funds gained by both force and duress during the Nazi regime, which I feel was very wrong,” he said.
While he understands the money from the sale will go to charity, he said more than a portion of the proceeds should benefit Holocaust research and education.
“[Christie’s] should dedicate this money to organizations that dedicate themselves to educating people not only about the atrocities of the Holocaust, but also to learning from the past so that this will not only never happen again but that we can live in a better world today.
“Let us use the money that was ultimately gained at the expense of those persecuted to educate others.”
The full New York Times report is available here.
More on Auctions
The Latest
Policies & IssuesFeb 03, 2026
Tariff Relief on Horizon for India as Trump, Modi Make DealPresident Trump said he has reached a trade deal with India, which, when made official, will bring relief to the country’s diamond industry.
CollectionsFeb 03, 2026
Jade Trau Releases New Charms, Introduces RondellesThe designer’s latest collection takes inspiration from her classic designs, reimagining the motifs in new forms.
WatchesFeb 03, 2026
Casio America Calls Jersey City HomeThe watchmaker moved its U.S. headquarters to a space it said fosters creativity and forward-thinking solutions in Jersey City, New Jersey.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
SourcingFeb 03, 2026
Nivoda Reveals Upgraded Gemstone MarketplaceThe company also announced a new partnership with GemGuide and the pending launch of an education-focused membership program.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
