The art world has been buzzing with news of a groundbreaking deal that has finally resolved the long-standing impasse over the sale of artist John Magnier’s works. The dispute between two prestigious galleries, Gagosian and Daniel Templon, has now been resolved, thanks to a pioneering agreement that could have far-reaching implications for the art market. In this article, we’ll look at the details of the deal, how it was struck, and what it could mean for the future of art sales.
The UK’s National Portrait Gallery (NPG) and the Getty Museum have announced a groundbreaking deal to secure possession of Portrait of Mai (Omai), a celebrated masterpiece by Sir Joshua Reynolds, for public display. The life-size painting, which dates from 1776 and is valued at £50 million (€56.8 million), is a rare example of an 18th-century work that centres around a person of colour. It depicts a young Polynesian islander who sailed to Britain on one of Captain James Cook’s ships and became a celebrity on arrival.
The portrait’s future has been the focus of a campaign since March 2022 when its owner, the billionaire Irish businessman and art collector John Magnier, applied to sell it. In a letter to the Financial Times, figures including former UK culture minister Lord Ed Vaizey and the broadcaster and historian David Olusoga said that the painting was perhaps the greatest work of Britain’s greatest portraitist, and the first-ever grand portrait of a non-white subject. They argued that the portrait should stay in Britain.
Despite deferment of an export license for the work three times, the £50 million price tag set a high bar, and a British institution was struggling to raise the money to buy it. Under the terms of the agreement, the NPG and Getty will each provide £25 million and jointly own the painting. The NPG aims to display the picture in June when the gallery reopens after renovation and plans to tour it to the four UK nations before it heads to Los Angeles in time for the 2028 Olympic Games.
Speaking on the deal, Timothy Potts, director of the Getty, said the painting was both an icon of British portraiture and a uniquely noble representation of a person of colour from the Pacific islands, a region that was in Mai’s day being colonised by Britain and other European nations. NPG director Nicholas Cullinan added that the painting was unique in both British and world culture and yet has never been in a museum collection. He said he was grateful to Mr Magnier for working with them collaboratively.
If the NPG successfully raises the remaining funds, it will mark the first time an export-deferred work has been jointly acquired by a UK and an overseas institution. Other shared deals have seen works remain in the UK. In 1994, the Victoria and Albert Museum and the National Galleries of Scotland jointly purchased The Three Graces, a celebrated sculpture by Antonio Canova. This came after an export bar was imposed on the work following its acquisition by the Getty.
The outstanding funds for Portrait of Mai are likely to come from a mixture of public and private sources. Art Fund said it had raised £350,000 through the fundraising page on its website during the campaign. The spokesperson for Mr Magnier did not immediately respond to a request for comment.
Overall, the deal is a testament to the international collaboration and negotiation across borders to achieve global preservation of cultural heritage that could otherwise be lost to private collections. The collaboration between the NPG and Getty to secure Mai’s future public display and ownership is a positive example of the potential for museum institutions in different countries to work together to maximise public access to renowned works of art.
In conclusion, the impasse between John Magnier and the galleries has finally come to an end with a groundbreaking deal. This marks a significant milestone in the art industry, demonstrating the power of negotiations and collaboration. With this new agreement in place, art enthusiasts can look forward to experiencing the remarkable talents of John Magnier and his iconic works. It is a win-win situation for everyone involved, and we can all celebrate the triumph of mutual understanding and cooperation in the art world. The future looks bright for art, and we cannot wait to see what exciting developments are yet to come.
