A painting of a ballerina by one of the founders of impressionism Edgar Degas has been stolen from a home in Cyprus.

Degas was a master of movement, and though considered an impressionist, preferred to label his work as realism

The work, entitled Ballerina adjusting her shoe (not pictured), was reported missing by a 70-year-old man in Limassol on September 29. Valued at $7.6m, it was stolen alongside seven gold watches and three gold opera glasses with a total value of around $200,000.

Sadly, the 1873-74 painting was not insured, yet police have arrested one man and have two further suspects - apparently the group knew the victim.

This is believed to be one of the biggest thefts of art ever staged on Cyprus, with the island rarely seeing crimes of this nature.

French artist Degas, famed for his paintings of dancers, is highly desirable to collectors, with his work considered among the earliest examples of impressionism.

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