British Dealer Anthony D’Offay Sells 725 Works to Tate for Reported Fifth of Their Value

February 28th, 2008

Anthony D’Offay via MSNBC

The British art dealer Anthony d’Offay has made one of the biggest arts sales in Britain for a reported fifth of their value. 725 works have been sold to the national collection, the Britain’s Tate and Scotland’s National Galleries on Wednesday.
British Art Dealer Anthony d’Offay Sells Major Collection [MSNBC]
More Modern Art for British museums []
The Battle between the Tate and the MOMA [Guardian Unlimited]

Works include those by Andy Warhol, Damien Hirst and Jeff Koons, for the price at which d’Offay bought them: $53 million which represents a fifth of their current estimated value ($250 million).

Questions have been raised as to whether or not British museums need more modern and contempory art. There has been significant recent controversy over the use of goverment backed museum funds from the British and Scottish governments.