Art Investment

Purchase «of Diana and Acteon» was delayed because of disagreement on the legal issues

The debate that erupted in Britain over rescue paintings Titian «Diana and Acteon», rage who have a month. In late December, the media have reports that 50 million pounds, which had to be collected until the end of 2008 the National Gallery in London and Edinburgh, has found and will soon be paid to the owner of the masterpiece Duke Sutherland. However, as reported by The Art Newspaper, in connection with certain legal and financial difficulties transaction has been delayed slightly. This, of course, frustrating, and gallery owners, and the Duke, which even made a public statement, expressed their dissatisfaction .

For a successful resolution is necessary to solve problems in two dimensions. The first relates to the guarantees for the remaining 26 items from Bridzhuoterskoy collections, which, together with two Titian paintings are in the National Gallery of Scotland since 1945. These works belong to the Duke of Sutherland, are one of the best and the world's largest private collections of old masters are exhibited in public. Among them are masterpieces of famous authors such as Raphael, Poussin and Rembrandt.

According to statement delivered by the Duke of Sutherland, 27 Aug., 2008 in conjunction with the two National Gallery, if the museum bought out his two paintings Titian ( «Diana and Acteon», «Diana and Callisto»), the remaining items from Bridzhuoterskoy collection should remain in Edinburgh for another 21 years.

But in an official report issued by the National Gallery two months later, on October 29, the wording of the question has changed slightly: «We were offered the guarantee, which we hope will help preserve and other works from the collection Bridzhuoterskoy even at 21 year ».

Then it became clear that the duke wants to avoid this condition, in order to keep the opportunity for further sales in the event of exceptional circumstances. Representatives galleries are convinced that in this case they will not have any solid guarantees.

In addition, it was found that in 2003, when the National Gallery of Scotland bought from the Duke for 20 million pounds «Venus Anadiomena» Titian's brush, he also made an official statement. It was seen as a verbal confirmation that no further sales will follow, but the written agreement but has not been compiled.

In this time of such inaccuracies, apparently, can be avoided, because protracted negotiations, continuing this winter is likely to be completed the signing of the agreement clearly establishing the right of the National Gallery in Edinburgh, keep the remaining 26 items from Bridzhuoterskoy collections for long-term loan.

Another controversial aspect is the second Titian canvas - «Diana and Callisto». In the case of «Diana and Acteon» will be acquired, the National Gallery in London and Edinburgh will have another four years to redeem his «for a similar sum». But still it is not clear whether the next transaction is taxed. But this would affect its value to the duke. That is why the final form of agreement regarding the payment of «Diana and Callisto», has proved quite difficult to reconcile. And without it it is not possible to finalize and sign the entire package of agreements on which the purchase of «Diana and Acteon».

In the meantime, the National Gallery in London and Edinburgh, raises funds for the purchase of «Diana and Acteon». While it was officially announced two grants: 1 million pounds provided the charity The Art Fund and 10 million received from the state National Heritage Memorial Fund . It is estimated that more than 10 million would come from the Scottish Executive, which awaits only a final agreement. The request for funds was sent and the Treasury in London, through the Ministry of Culture, Media and Sport, but according to available information, there was received a denial. To purchase «Diana and Acteon» also willing to allocate money and some major private sponsors.

Difficulties in obtaining the necessary 50 million is largely associated with legal and procedural delays. Many donors simply waiting for a definitive solution of all contentious issues in order to make the payment.

As long as both parties will refrain from commenting on the upcoming transaction. Employees of two galleries, only expressed the hope that soon will be able to make formal statements. A representative of the Duke of Sutherland, said: «The negotiations on the legal issues are very complex. Both parties shall make every effort to ensure that as soon as possible to reach a mutual agreement ». You may sign the treaty did succeed in early February.

material produced Catherine Onuchin

Sources: theartnewspaper.com , artinvestment.ru


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