Missing painting turns up in New York

By Robert Kirchgassner ,

A painting that went missing in 1970 was found in a New York warehouse last week.

The painting, made in 1961 by Roy Lichtenstein, is called "Electric Cord," and shows a coiled cord in black and white, on a canvas 28 inches by 18 inches.

It was bought in the 1960s by art collector Leo Castelli for $750. However, it vanished after his gallery sent it out for cleaning. Castelli died in 1999 (two years after Lichtenstein) and his wife, Barbara, inherited the gallery. In 2007, she listed "Electric Cord" with a registry for missing and stolen artwork.

Last week, art dealer James Goodman contacted the Roy Lichtenstein Foundation to help authenticate "Electric Cord," which was found at a Manhattan storage facility.

Court records revealed that it came from a gallery in Bogota, Colombia.

The painting is now worth $4 million. A judge has ordered it to remain in the warehouse until rightful ownership is determined.

A hearing is set for next week.



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