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Art Fund 'disappointed' by proposed sale of Michelangelo
A drawing by Michelangelo, discovered last year in the library of Castle Howard in North Yorkshire, is expected to fetch up to £8m, when it is auctioned by Sotherby's in London on 11 July. The cost of insuring such a valuable work is thought to have been a strong influence on the decision to arrange to have the picture sold at public auction. The Art Fund is saddened by the news of the sale having pledged a huge sum towards its purchase. Sir Nicholas Goodison, chair of the National Art Collections Fund commented this week: We are naturally very disappointed. It is a ravishing drawing, and in recognition of its superlative quality The Art Fund pledged £500,000 towards its purchase - the largest amount we have ever offered for a work on paper.
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