Thursday 14 December 2017

Central Bank art works worth €2m

Portrait of Lady Lavery is given to the National Gallery in 2002. Photo: Martin Nolan
Portrait of Lady Lavery is given to the National Gallery in 2002. Photo: Martin Nolan
Colm Kelpie

Colm Kelpie

The Central Bank's cache of art has jumped in value by €300,000 in the space of a year to hit €2m.

The collection owned by the regulator is predominantly paintings, but also includes photographs and sculpture.

The valuation last year totalled €2m - up from €1.7m recorded in 2015, according to the bank's 2016 annual report.

A spokeswoman said the increase was due to a revaluation, which is conducted by art buyers and occurs on a "regular basis".

"The existing collection was acquired predominantly as part of the fit-out of the Bank's Dame Street buildings in the 1970s," a spokeswoman said.

"Following the move to the Docklands Campus, the art collection is currently held in the North Wall Quay building."

The valuation includes the portrait of Lady Lavery by John Lavery, which is on permanent loan to the National Gallery of Ireland, where it is on public display.

This is the most valuable piece in the collection, worth an estimated €700,000.

The collection also includes works by Patsy Dan Mac Ruaidhrí, Patrick Scott, Sean Hillen, Dick Joynt, and Michael Durand and single works by Louis Le Brocquy, Paul Henry, Robert Ballagh and Jack B Yeats.

Irish Independent

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