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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.

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LS Lowry leads the way as North Yorkshire art auction tops £215,000

Tennants Auctioneers in North Yorkshire achieved a total of £215,990 during its Modern and Contemporary Art Sale on February 28. The auction was led by works from LS Lowry, including the signed print 'Going to the Match' which fetched £35,000 and the drawing 'Children in a Crowd' which sold for £25,000. Other significant results included works by Brian ‘Braaq’ Shields, Geoffrey Key, and a David Hockney etching, contributing to a high 96 per cent sell-through rate.

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