Art Investment

The National Gallery and the Prince of Liechtenstein did not agree on a price

confusion with the pattern Alonso Sanchez Coello (Alonso Sanchez Coello) «Portrait of Don Diego, son of Philip II of Spain, due to which the British Royal Academy has lost one of its largest exhibitions , is continuing.

In 2006 this work and other 8 paintings purchased from a British art dealer of Liechtenstein, Prince Hans-Adam II (Hans-Adam II). However, to get their purchase, he had not succeeded. In September 2007, a portrait confiscated Tax and Customs HM (Her Majesty's Revenue & Customs, HMRC), which did not suit filed by the art dealer seeking permission to export. It was an investigation, which greatly delayed. Prince, a very sorry picture of confiscation, which he bought legally, filed a protest against the delay in resolving the issue. As a result, 10 November 2009 "Portrait of Don Diego" was handed to his representative in London. However, permission to export the Tax and Customs Service has not been issued.

By the time the desire to buy now Coelho expressed the British National Gallery. But Hans-Adam II has even agreed to sell it and wanted to withdraw the appeal for permission to export. However, to solve the problem this way, too, failed. Ministry of Culture, Media and Sport has announced the UK National Gallery that she, as an organization financed by state budget should not buy the item appearing in a criminal investigation that continues to the Tax and Customs Service.

After this, the National Gallery of the Ministry of Culture sent a request to reconsider its position on this case and finally achieved a positive response. January 19, 2010 the Ministry said that will not resist buying a picture Coelho.

It would seem that this time all the contradictions have been resolved. But no such luck. National Gallery offered to pay Prince Hans-Adam II, 2 million pounds. That is, as much as he paid for the portrait in 2006. However, since the franc (the official currency of Liechtenstein) fell, and, according to the prince, the amount paid for buying them at the time, now equals 2.5 million pounds. National Gallery, in turn, insists that he can not pay more than the market value of the work, which, according to representatives of the museum, still accounts for only 2 million.

Prince of Liechtenstein is not agreed to cede to the price and suggested instead of buying just send a picture of the National Gallery for temporary display. This is now being negotiated with representatives of the museum, which would have been pleased to decorate picture Coelho their showrooms.

Nevertheless, the issue of assessing the value of fabric remains open, and the future of "The Portrait of Don Diego , son of Philip II of Spain "is still vague.

Source: theartnewspaper.com , artinvestment.ru


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