Nearly 50 gold pieces of art created by Italian sculptor Umberto Mastroianni were stolen from an exhibition near Lake Garda, Italy, on Wednesday night, CNN reported, quoting the host of the exhibition, the Vittoriale degli Italiani estate.

According to the report, forty-nine pieces of art worth 1.2 million euros (over USD 1.3 million) were stolen from the exhibition called "Like a warm, flowing gold," opened at the end of December and scheduled to close on Friday.

One of the pieces, named "Uomo/Donna" (Man/Woman), was later found inside the exhibition complex's grounds, but the other 48 pieces remain missing, the estate spokesperson told CNN.

The exhibition, called "Like a warm, flowing gold," opened at the end of December and was scheduled to close on Friday.

CNN reported that the investigations into the theft are ongoing, the spokesperson added.