Art Collection
Why This American Collector Is Donating His $300 Million Art Collection
Six decades ago, Richard and Elizabeth “Betty” Hedreen’s art collection began as many collections do: by seeking out artworks to decorate their new home. “We started out looking for paintings that reflected the Seattle region, made by artists who were from around here,” Richard explained to Artsy. “We wanted works that would connect our home to the area [such as] William Ivey and Guy Anderson.”
The couple soon found that “the more we looked at art, the more there was for us to see and appreciate,” Richard continued. “Collecting art became a deeply satisfying way for us to expand our horizons, and so the collection grew.”
Read more: https://www.artsy.net/article/artsy-editorial-american-collector-donating-300-million-art-collection
The British Council is considering selling up to half of the 9000 works in its art collection in order to pay a debt of £197m. This is the remaining total from its £250m pandemic-era government loan. Without additional financial support, it is ‘in real danger of disappearing’ the institution’s CEO Scott McDonald told The Guardian. The council is also considering shutting its operations in 30 to 40 countries.
McDonald states that the British Council is committed to paying back the loan but insists that the government must help find a viable solution. ‘I would just like reasonable loan terms of something like 25 years and a lower interest rate’ he said. The Art Newspaper has estimated that the current commercial interest rate applied to the loan amounts to £14m annually.
Read More: https://artreview.com/british-council-considers-selling-art-collection-to-pay-197m-debt/
Hospital patients and visitors will be able to enjoy the stories behind artwork from across Dorset through a new app.
A new project celebrating 35 years of art at Dorset County Hospital will bring the art straight to art lovers with a collection of stories and sounds that can be listened to via a mobile phone.
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Art Collection
British Council could plug £200million debt crisis by selling art collection featuring masterpieces by Tracey Amin and David Hockney
The British Council may be forced to put its £200million art collection up for sale as a result of ‘financial peril’ which is threatening the institution.
The council is facing £197million in outstanding debt after taking out an emergency £250million loan from the government during the pandemic.
