Private sector and restitution: Why is war booty so hard to find?

During the European expansion constant fighting and violence and the taking of spoils of war went hand-in-hand. Palaces, shrines, homesteads and entire villages were plundered and destroyed. In the restitution debate, the focus is mostly on state-collections resulting from these confrontations. There is ample evidence, however, that many more parties were involved. This blogpost has soem of the evidence.