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.
Editors' Picks
Sponsored by
More on Auctions
The Latest
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
