sir joshua reynolds portrait inheritance tax

The Tate in London has acquired a full-length portrait by Joshua Reynolds of the 5th Earl of Carlisle (1748–1825) through the UK's Acceptance in Lieu scheme, which allows art to be transferred to the nation in place of inheritance tax. The painting, valued at $6.1 million (£4.7 million), was painted in 1769 and had hung at Castle Howard in North Yorkshire for over 200 years. It will remain on public display there but will also travel to other venues including Tate Britain.

adelaide labille guiard self portrait versailles

A previously unaccounted-for self-portrait by 18th-century French artist Adélaïde Labille-Guiard sold at Tajan auction house in Paris for €843,800 ($988,785), far exceeding its estimate of €300,000–€500,000. After the hammer fell, a representative of the Palace of Versailles invoked France's droit de préemption law to claim the 1782 pastel work for the national collection, preventing its private sale.

barbara hepworth sculpture uk national collection

The Hepworth Wakefield and Art Fund have successfully raised £3.8 million to acquire Barbara Hepworth’s sculpture *Sculpture with Colour (Oval Form) Pale Blue and Red* (1943). The wood and string artwork, previously in private hands and rarely seen publicly, was sold at Christie’s in London last March for £3.5 million. A temporary export bar imposed by the UK government gave the museum time to raise funds, with the deadline set for August 27. The funding came from over 2,800 donations and major grants, including £1.89 million from the National Lottery Heritage Fund and £750,000 from the Art Fund, along with private support.

Comment | Latest auctions prove Old Masters are not ‘out of fashion’

Recent Old Master auctions in New York have defied narratives of market decline, totaling over $185 million across Sotheby’s and Christie’s. High-profile sales included a newly discovered Michelangelo drawing for $27.2 million, a Canaletto masterpiece for $30.5 million, and a record-breaking Rembrandt drawing sold for $17.8 million. These results, alongside the Italian state's $14.9 million acquisition of an Antonello da Messina, suggest that historical masterpieces remain premier "civilisational assets" and stable financial havens during periods of economic volatility.

National Gallery spends £16m on altarpiece by unknown artist

The National Gallery in London has purchased a 500-year-old altarpiece, *The Virgin and Child with Saints Louis and Margaret and Two Angels*, for £16.4 million from an anonymous owner. The painting, created between 1500 and 1510, is of unknown authorship—experts cannot agree whether the artist was Netherlandish or French, with candidates including Jan Gossaert and Jean Hey. The oak panel was felled around 1483, and the work was first documented at the priory of Drongen in Ghent in 1602. It was sold through Sotheby’s with support from the American Friends of the National Gallery London and had been kept at the Lulworth Estate in Dorset, home of the Weld family.

A Gauguin Portrait for Budapest

Un portrait de Gauguin pour Budapest

The Szépművészeti Múzeum (Museum of Fine Arts) in Budapest has acquired a portrait by Paul Gauguin. The painting was part of the collection of André and Françoise Kostolany, which was recently dispersed at auction by De Baecque & Associés in Versailles. The sale saw strong results, particularly for Hungarian paintings from the late 19th and early 20th centuries, with works by József Rippl-Rónai fetching high prices.