Picasso stopped for export
August 20 2012
Picture: Tate
The sale of Picasso's Girl with a Dove (first revealed exclusively here on AHN) has gone ahead at £50m, and the government has put on the inevitable temporary export bar. The picture was sold privately by Christie's for £50m. Museums have until December to raise the moolah. It appears that, unlik the Manet recently, there is no tax remission. So don't hold your breath.
Meanwhile, let's see what some people made of the news, from The Guardian's comments section:
- Art is in the eye of the beholder. If it didn't have Picasso's signature on it,would you buy it in an Oxfam shop.
- If I painted that you wouldn't give me 50p for it and frankly I wouldn't want it free.
- This painting is just a piece of sentimental kitsch. Only the signature has people stopping to look twice at it. If it was in a junk shop, everyone would walk past it.
- ...how many hospitals can we build, invest it sport, buy numerous other artworks, or support young artists.
Update - a reader sends more news on the tax situation:
The Picasso is listed among the Conditionally Exempt items on HMRC's website so, I would assume, there would deferred tax to pay on it. This would accord with it's listing on the Arts Council site under notices of intention to sell which links to information on private treaty sales. Maybe the tax will be settled by surrendering other property from the same source; possibly the Manet of the banks of the Seine (currently on loan to the Courtauld I think).
So a similar situation to the Rutland Poussins: the tax payable the sale of the painting to Texas and the one on offer to the Fitzwilliam allowing the latter institution to only look to a £4M purchase price - as opposed to the £15M each.
