The owner of a multimillion-dollar collection of artwork stolen last month has unexpectedly waived the insurance policy he owns to protect the paintings, Los Angeles police detectives confirmed Thursday.
The art world was abuzz in early September with word that a series of original works by famed Pop Art icon Andy Warhol had been stolen from the walls of noted art collector Richard L. Weisman's Westside Los Angeles home.
In all, 11 brightly colored silk screen paintings were gone -- 10 are portraits of famous athletes and one is of Weisman, 69, who was friends with Warhol and commissioned the series in the late 1970s.
Each piece was estimated by some experts to be worth at least $1 million.
Dets. Donald Hrycyk and Mark Sommer, who make up the Los Angeles Police Department's art theft detail, had few leads to follow. There was no sign of forced entry and no substantial witness accounts. And, oddly, other valuable pieces of art in the home had been left untouched.