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Diageo will not auction Monarch of the Glen
Diageo has reversed its decision to auction one of Scotland’s most iconic paintings, The Monarch of the Glen, after entering into an agreement with the National Galleries of Scotland (NGS).
The Monarch of the Glen is one of the most revered paintings of the 19th century
Criticism followed Diageo’s announcement earlier this month that it planned to auction the painting, completed by Sir Edwin Landseer in 1851, through Christie’s, due fears it could end up overseas.
The Johnnie Walker maker owns the painting, which has been displayed by NGS for the past 17 years.
Diageo has now agreed to gift half the estimated market value of the painting to allow NGS to acquire the work. The gallery will embark on a campaign to secure £4 million and bring it into public ownership for the first time in its history.
“We are delighted with this grand gesture by Diageo which offers a once-in-a-lifetime opportunity for this major work to be acquired for the nation,” said Sir John Leighton, director general of the National Galleries of Scotland.
“The Monarch of the Glen is an iconic image which is famous across the world. The ideal home for such an important and resonant picture is the Scottish National Gallery where it can be enjoyed and admired by millions of visitors in the context of the nation’s unrivalled collection of Scottish, British and European art.
“We look forward to working with Diageo and our partners to ensure we achieve our ambition.”
The Monarch of the Glen is one of the most famous paintings of the 19th century and is considered a work of great technical accomplishment. Christie’s first sold the painting 100 years ago.
It was purchased by Sir Thomas Dewar and used as a marketing image by a number of brands, including John Dewar & Sons Distillery and Glenfiddich. Diageo became owner of the painting following a series of merger and acquisitions.
In July last year, Diageo sold its five-star hotel and golf resort in Gleneagles, Scotland, to a private investment firm for an undisclosed sum.