Sotheby's is auctioning ten works of art donated by Royal Academicians and honorary RAs, with an estimated total value of up to £2.6 million, to provide financial support for the Royal Academy in London. The lots, including pieces by El Anatsui and Sean Scully, will be featured in the auction house's flagship March contemporary sales.
The sale is a significant response to the Royal Academy's serious financial challenges, which have persisted since the pandemic and led to potential staff cuts. While providing crucial philanthropic support to the artist-run institution, which receives no government funding, the high-profile auction also offers Sotheby's valuable brand visibility and strengthens its relationship with the art community.