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£100 needed for National Galleries Titians
The British aristocrat, The 7th Duke of Sutherland wants the nation to buy a pair of Titian paintings, "Diana and Actaeon" and "Diana and Callisto," repudiated to be worth £300 million($552 million) on the open market. The Titian paintings are part of a collection known as the "The Bridgewater Collection" which contains 27 Old Master paintings which includes three Raphaels, a Rembrandt and eight Poussins. The Titian paintings have been on display at the National Gallery of Scotland in Edinburgh, since 1945, and prior to that, for more than a century in London.
The 7th Duke of Sutherland, by all accounts is being very reasonable with his request. He is offering the sale of the two Titians for £100 million, ($183 million). The first Titian painting, "Diana and Actaeon" will be sold for £50 million, ($91 million) and will be paid by installments over three years. (may be there's some kind of tax advantage doing it this way?). The second Titian painting, "Diana and Callisto," will be sold in 2013 with the same arrangement as the first painting. If the campaign is successful the Duke will extend the loan of the remaining paintings in the collection by 21 years. If the offer by the 7th Duke of Sutherland is refused he will sell paintings from the "Bridgewater Collection" although not necessarily the Titians.
The Titian paintings are part of a series of six mythological paintings by the Venetian master, painted between 1556 and 1559 for Philip II of Spain.
The Duke has set a deadline of New Year’s Eve to agree the £50 million purchase of "Diana and Actaeon".