LONDON—Two of Britain's leading art institutions are to join forces to take advantage of a cut price offer to save for the nation two works by Italian Renaissance master Titian.
The two paintings—Diana and Actaeon and Diana and Callisto—are being offered by the Duke of Sutherland to the National Gallery of Scotland and the National Gallery of London at 50 million pounds each—one third of their estimated open market value.
The paintings, described by Lucian Freud as the "most beautiful pictures in the world" are a central part of the Bridgewater Collection, which has been hailed as one of the world's most important.
The collection, which has been on almost permanent display at the National Gallery of Scotland since 1945, also includes two more Titians, three Raphaels, a Rembrandt, a Van Dyck, a Tintoretto and eight Poussins.
The Duke of Sutherland has decided to offer the deal as a way of giving cheap art to the nation and keeping the collection in one piece.
It comes with the added incentive that if the two galleries manage to raise the necessary funds, the entire collection will remain on long-term loan to the Scottish gallery.
"The Bridgewater Loan ... is the most important Old Master paintings loan to any public museum in the world," said National Gallery of Scotland director John Leighton.
"The present initiative is intended to secure the long-term future of the Loan for the public benefit. We are delighted to be working in close collaboration with the Duke and our colleagues in London in order to achieve this."
The two Titians were painted as part of a cycle of works for King Philip II of Spain between 1556 and 1559 and are acclaimed as a high point of the Italian Renaissance.
Under the deal Diana and Actaeon will be offered first to the galleries. If they succeed in raising the money they will be offered the option to buy four years later the Diana and Callisto for the same sum.
The galleries have until the end of this year to commit to buy the first of the two pictures.
