Britain’s campaign to buy a 50 million pound ($75 million) Titian painting got a boost as the National Heritage Memorial Fund announced that it is giving 10 million pounds toward the purchase.
It was the biggest contribution so far. London’s National Gallery and the National Galleries of Scotland, or NGS, have until year’s end to raise the money for “Diana and Actaeon,” currently on loan to the nation from the Duke of Sutherland.
“This has completely transformed the campaign,” said National Gallery Director Nicholas Penny, as he stood before the painting of Actaeon chasing the bathing Diana. “Previously, I was pretending to be optimistic. Now I am genuinely optimistic.”
If enough cash is raised to buy the painting — one of two 16th-century works the Renaissance artist executed for Philip II of Spain — the two museums would then have the option to acquire, for a similar amount, another Titian, “Diana and Callisto,” by 2012. If both are bought, other Old Masters in the duke’s collection can stay on long-term loan at the NGS.
“We now feel within sight of our campaign,” said Penny, who explained that there were other donors ready to give, or not wanting their gift disclosed yet. He said benefactors need not pay immediately: They have up to three years to give cash. (Bloomberg)