Nazi haul of 1,500 art works worth €1bn found in flat

A vast trove of modern art seized under Germany’s Nazi regime, including works by Picasso, Matisse and Chagall, has been discovered in a Munich apartment among stacks of rotting groceries, German magazine Focus reported.

The 1,500 art works, missing for more than 70 years, and discovered by chance by customs authorities in Bavaria in 2011, could be worth well over €1bn, Focus said.

There was no word on why the find had taken so long to come to light. Bavarian officials declined comment on what could be one of the largest recoveries of Nazi-looted art.