The bankruptcy of Munich's prestigious Galerie Thomas has evolved into a real-life crime drama, as its 87-year-old owner Raimund Thomas has been missing for more than a year. According to the Rheinische Post, the art dealer faces charges of breach of trust, fraud, and delaying bankruptcy proceedings. On Thursday, artworks from his gallery are being sold at auction to recover funds for creditors.
Raimund Thomas was a prominent figure in Munich's high society, with celebrities and wealthy patrons regularly visiting his gallery. However, the accusations against the 87-year-old are far from glamorous. The Munich prosecutor's office is now investigating Thomas for breach of trust, fraud, and bankruptcy obstruction following the gallery's collapse. He allegedly owes money to clients who had entrusted him with their artworks. Despite the ongoing investigation, there has been no trace of the Krefeld-born gallery owner.
To generate funds for creditors, insolvency administrator Hubert Ampferl is having artworks from Galerie Thomas auctioned through the Cologne-based auction house Van Ham, as announced by the auction house itself. The live auction features 17 works of modern and contemporary art, including pieces by Wojciech Fangor, Leiko Ikemura, and Walter Stöhrer. An additional 400 pieces are being offered through online-only auctions.
Among the notable pieces is Leiko Ikemura's 1986 equestrian painting, an early work estimated at 25,000 to 35,000 euros, which once belonged to Raimund Thomas himself. Some of his collection pieces were featured in 1989 at the Darmstadt Mathildenhöhe exhibition titled "Thomas Collection - Art from the Eighties." The auction's most expensive piece is Wojciech Fangor's "E 31" from 1966, valued at an estimated 60,000 to 80,000 euros, according to the Frankfurter Allgemeine.
The whereabouts of Raimund Thomas remain completely unknown to authorities. The Munich prosecutor's office refuses to provide information about whether search measures have been initiated, if there might be an international arrest warrant, or how they otherwise plan to apprehend Thomas. "The whereabouts of the accused R.T. are unknown to us. For tactical investigative reasons, we generally do not comment on search measures, regardless of whether they are being conducted or not," the prosecutor's office was quoted as saying by the Rheinische Post.
The case highlights the dark side of the prestigious art world, where trusted relationships between dealers and collectors can sometimes lead to significant financial crimes. As the investigation continues and the auction proceeds, the art community watches closely to see how this high-profile case will unfold and whether the missing gallerist will eventually be brought to justice.
