How many paintings were stolen from the Manhattan, New York branch of Colnaghi’s Gallery of London in 1988?

Eighteen paintings housed in the East Village at the Manhattan, New York branch of Colnaghi’s of London went missing in 1988. The art pieces taken concerned pictures with ancient settings, European works of art, and paintings by old masters. A painting ('Rayfish With Basket of Onions') by Jean-Baptiste-Siméon Chardin (1699–1779) was stolen. Also an artwork by early Renaissance Florentine, Fra Angelico was taken.

The theft was one that actually involved a break-in through a skylight and a maneuver using a rope. The particular maneuver to gain entry could have sent the robbers plunging down the stairwell. At the time, the stolen art was valued between $6 and $10 million, making it the biggest heist in New York. Only 14 of the 18 stolen paintings have since been recovered.

This heist, which occurred on the evening of Feb. 8, 1988, took place at Colnaghi's former home near Madison Avenue. It was pointedly described by the police as ''a very daring raid''. News reporters on the scene said that the thieves apparently stole whatever they found and reached. After setting off an alarm, they fled through a rooftop hatch, leaving a litter of empty frames, dust covers, and wrapping paper.

It was also noted in Forbes Magazine, a source for reliable business news, that the theft illustrated what these thieves and undoubtedly others had figured out. The value of paintings on display in private homes and galleries often rivalled those at large museums with top security.