Nazi-looted posters up for auction in New York

Nazi-looted posters up for auction in New York

Arlan Ettinger, president Guernsey's Auction House in New York City, is auctioning more than 1,200 posters from the massive collection of Dr. Henry Sachs, a Jewish dentist who lived in Nazi Germany. 

In 1938, the Nazis seized the collection and placed Dr. Sachs in a concentration camp.

Sachs was released a few weeks later, but he never saw his posters again. He and his family long believed the art had been destroyed. 

"His son made an amazing discovery about five or six years ago, that the collection had not been destroyed, but had been taken by the Russians following World War II from the Nazis and somehow ended up in a German museum," Ettinger said.

Sachs's son took the museum to court, winning the eclectic collection back last year. 

The auction estimates that the posters could pull in up to $4,000.

Bidders say they can't wait to try to get their hands on a piece of history. 

This is an unreserved auction, which means there is no minimum price for the posters, so Ettinger is expecting almost all of them to sell.

He is also going to donate about 500 posters to museums.