The Heist of Monet's "Poppies Near Vetheuil" and Understanding the Thieves' Motivation

Police in Switzerland are still searching for three masked man who stole paintings valued at $163 million on Monday. The paintings include Monet's "Poppies near Vetheuil" and Vincent Van Gogh's "Blossoming Chestnut Branches."

With this brazen theft, I decided to pay a visit to Juan Sanchez in Sol de la Molina, a villa outside Lima, Peru, to understand the reasoning why criminals target certain artwork above others. Mr. Sanchez makes his living on art, having studied at Lima's School of Fine Arts, operating his own gallery on his property, and teaching the finer points of impressionist painting to beginners and intermediates. The following are excerpts from our conversation.

Chet Harlow: I wanted to take a moment to discuss the theft of the Monet and Van Gogh painting earlier today. What is your reaction to this crime?

Juan Sanchez: It is heartbreaking to me that these treasures are in the hands of these guys. But I really am not really surprised. It simply is a reflection of the poor security that exists in many galleries and museums around the world.

CH: In your opinion, what would motivate these criminals to target the paintings they did?

JS: Obviously money. That would be number one. But they are not dumb guys. They also need to create headlines. So they have targeted the best known impressionist painter in the world. When people from the black market community learn that a Monet is available underground, the guys who stole it will be able to capitalize the most.

Also understand that art theft is very common. It happens in the universities, and anywhere there is weak security. However, the lesser known painters will not create the news coverage that the loss of a Monet or Van Gogh would. Look around my yard (pointing to various easels standing on his property). These could be stolen at any moment. I do not have guards. But if that happened, CNN would not pick up the story because I am not widely known. Maybe that is because I am still living (laughs). That is the problem.

CH: Wouldn't the vast news coverage of the story also help to foil the plot by drawing attention to the crime, and ultimitely to the individuals responsible?

JS: Sure. Sure. But that is the nature of crime. They are looking for the biggest money. You could buy this painting right here for $500 (pointing to one of his originals of a Peruvian market scene), but if you have a Monet you could sell for $50 million, you would have to steal a lot of my paintings to reach that figure. These guys want to retire and go on a long vacation.