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28/08/2008
National Galleries Fund Raising Appeal For Titan Works
Two national art galleries are uniting in the hope of raising the funds needed to ensure two Renaissance art pieces remain in Britain.
The National Galleries of Scotland and the National Gallery in London have launched an appeal for fund raising, after the Duke of Sutherland has offered two paintings by Renaissance artist Titan, for £50 million each.
The paintings 'Diana and Actaeon' and 'Diana and Callisto' are part of the famed 200-year-old Bridgewater collection - the group of pieces by Titan, Raphael and Rembrandt.
The estimated open market value for both paintings is £300 million, and the current offer represents one third of this amount.
Both works have been on loan from the 7th Duke of Sutherland's estate since 1945, and the Duke has made the decision to offer the galleries the opportunity of purchasing them, so they will remain on public display.
Should the galleries successfully raise the funds needed, the deal ensures the entire collection will remain on long-term loan on the Scottish gallery.
John Leighton, National Gallery of Scotland Director, said: "The Bridgewater Loan... is the most important Old Master paintings loan to the Scottish gallery."
He added: "The present initiative is intended to secure the long-term future of the Loan for the public benefit. We are delighted to be working in close collaboration with the Duke and our colleagues in London in order to achieve this."
Mr Leighton also said losing the Bridgewater Works would be "like the Uffizi without its Botticellis, the Louvre without its Mona Lisa".
The galleries have been told they must confirm their commitment to purchasing one of the pictures by the end of this year.
If they successfully raise the funds required they will be given the option to buy the second piece in four years time.
(JM)
The National Galleries of Scotland and the National Gallery in London have launched an appeal for fund raising, after the Duke of Sutherland has offered two paintings by Renaissance artist Titan, for £50 million each.
The paintings 'Diana and Actaeon' and 'Diana and Callisto' are part of the famed 200-year-old Bridgewater collection - the group of pieces by Titan, Raphael and Rembrandt.
The estimated open market value for both paintings is £300 million, and the current offer represents one third of this amount.
Both works have been on loan from the 7th Duke of Sutherland's estate since 1945, and the Duke has made the decision to offer the galleries the opportunity of purchasing them, so they will remain on public display.
Should the galleries successfully raise the funds needed, the deal ensures the entire collection will remain on long-term loan on the Scottish gallery.
John Leighton, National Gallery of Scotland Director, said: "The Bridgewater Loan... is the most important Old Master paintings loan to the Scottish gallery."
He added: "The present initiative is intended to secure the long-term future of the Loan for the public benefit. We are delighted to be working in close collaboration with the Duke and our colleagues in London in order to achieve this."
Mr Leighton also said losing the Bridgewater Works would be "like the Uffizi without its Botticellis, the Louvre without its Mona Lisa".
The galleries have been told they must confirm their commitment to purchasing one of the pictures by the end of this year.
If they successfully raise the funds required they will be given the option to buy the second piece in four years time.
(JM)
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