A handyman put a knife to his employer's throat on New York's Upper East Side to steal $300 cash while millions of dollars worth of art went untouched.

Art  dealer Paul Quatrochi, 58, whose clients have included such names as Penthouse publisher Bob Guccione, Baron Heinrich von Thyssen and Austrian Princess Michaela von Hapsburg, was held at knifepoint for 30 minutes last week, he says.

He had hired James Hamarics, 53, to do odd jobs for him at his townhouse, filled with works by the likes of de Kooning, Ernst and Basquiat.

After some drinks over lunch, Hamarics had an argument with Quatrochi that turned violent with a demand for cash. He allegedly put a knife to Quatrochi's throat, saying “I’m going to decapitate you. I’m going to kill you right now. Give me the money.”

Hamarics was arrested after he returned to the residence while Quatrochi was speaking with police officers.