Having raised £50 million in 2009 to acquire Diana and Actaeon, the Galleries were given until December 2012 to find a similar amount for Diana and Callisto.
The Trustees of the National Gallery in London made the unprecedented decision to allocate a significant proportion of their remaining reserves to this acquisition and to further assist the Galleries in meeting the funding target, the Duke of Sutherland and his family have agreed to a reduction of the asking price to £45m. The generous reduction in price, together with the commitment of the National Gallery in London’s reserves, gave both Galleries a strong basis from which to fundraise.
Both institutions were acutely aware of the challenges of launching a public campaign during such difficult economic times and therefore decided to approach individual donors and grant-making trusts in the first instance. Our initial discussions led to a number of significant pledges of support, with exceptional charitable grants being offered by the Heritage Lottery Fund, the Art Fund and The Monument Trust. We are immensely grateful to all the individuals and trusts whose generous charitable support has made this acquisition possible.
Breakdown of funding, Diana and Callisto
• £5 million reduction in the asking price by the Duke of Sutherland
• £3 million from the Heritage Lottery Fund
• £2 million from the Art Fund (with an additional £75,000 for a digital public engagement programme)
• £15 million donations and grants from individual donors and trusts including The Monument Trust, The Rothschild Foundation, Chris Rokos, Sir Siegmund Warburg’s Voluntary Settlement, the J. Paul Getty Jnr Charitable Trust, James and Clare Kirkman, Sarah and David Kowitz, Patrons of the National Galleries of Scotland, and others who prefer to remain anonymous
• £25 million from the National Gallery London charitable reserves, principally from legacies left by the public over many years
The Art Fund is further supporting both Galleries in the development and implementation of an innovative digital public engagement programme which will provide a wealth of contextual information enabling greater appreciation and understanding of Titian and his paintings.