Heard on The StreetAugust 13, 2014

Museo del Prado will receive over a million euros

The Museo del Prado is set to receive, as part of the Villaescusa legacy, more than a million euros in cash along with two buildings (and possibly two more) in the city of Madrid. This is the result of a long investigation that located the funds in a Swiss account. The museum began the search for the funds after several failed attempts by specialized lawyers. A total of 1.088.3271,77 euros were deposited in a bank account, and are intended for the acquisition of new artworks. Manuel Villaescusa Ferrero named Museo del Prado the inheritor of his important assets. Villaescusa died in 1991, when his fortune was valued at more than 7.000 million pesetas. The Villaescusa donation is among the most significant ever received by the institution. The Museum's board of trustees designated a committee to study offers and propose acquisitions, which, up to Goya's La condesa de Chinchón in 2002, were more than 200. According to the institution, the intention was to enrich the museum's more representative collections, those of Spanish painting, as well as adding high-quality works to fill stylistic lacunae. The main problem was the difficulty in finding first-line works at affordable prices in the art market. Only a few foreign works were acquired, among them Family portrait by Adriaen Thomasz Key and The Blind Hurdy-Gurdy Player by Georges La Tour, both acquired in 1992, and El Greco's The Fable, an interesting composition that introduces into the Prado's collection of works by the Crete-born artist an unrepresented theme from his early period, acquired in 1993.
Museo del Prado will receive over a million euros | artnexus