Theft of the Weeping Woman

Weeping Woman by Pablo Picasso 

After Pablo Picasso painted Guernica he painted the Weeping Woman on October 18, 1937. The model for these works was his mistress Dora Maar. In 1985 the painting was purchased for $1.6  million by the National Gallery of Victoria in Victoria, Australia. This made it the most expensive painting purchased by a public Australian Art Gallery.

On August 2, 1986, thieves obtained access to the art gallery and unscrewed the painting from the wall mount and stole it. The screwdriver used was special and would not have been a common screwdriver the public would have. They initially thought that the painting was being cleaned and was at the Australian Capital Territory. It wasn't till the 4th they found it was stolen.

They searched the building top to bottom. The frame that the painting was originally was in was found. It was easier to transport a rolled painting than it was for it in the frame. The painting may have been stolen by A.C.T. or Australia Cultural Terrorists. A letter was sent form A.C.T. They gave two orders in order to get the painting back.

"1. The Minister must announce a commitment to increasing the funding of the arts by 10% in real terms over the next three years and must agree to appoint an independent committee to enquire into the mechanics of the funding of the arts with a view to releasing money from its administration and making it available to artists.
2. The Minister must announce a new annual prize for painting open to artists under thirty years of age. Five prizes of $5000 are to be awarded. A fund is to be established to ensure that the real value of the prizes is maintained each year. The prize is to be called The Picasso Ransom."

It's easy to say the requests weren't filled and a $50,000 reward was put out on information for the painting. 

Surprisingly enough an anonymous tip from a woman came in that lead to the recovery of the undamaged painting. The tip led officials to locker 277 at Spencer Street Station on 19 August 1986. Press was there and when they opened the locker they found the painting wrapped in a brown paper.

SOURCES:
Wikipedia
The Sydney Morning Herald