Wellby, who died last year, was a renowned Mayfair dealer, specialising in German silver of the 16th and 17th Centuries.
BBC: Entertainment & Arts
Charles Wrightsman, Suzanne Belperron and Michael Wellby.
FORBES: Sotheby's 2012 Jewelry Sales Fetched $460.5 Million
However, an Ashmolean spokesman added: "There is no reason to suppose Mr Wellby ever knowingly acquired any object that he knew or had reason to believe to have been looted from or sold under duress by a Jewish family in the period of Nazi rule".
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