Ministry of Culture donated State guarantee for 329 works to be exhibited in the permanent exhibition Thyssen-Bornemisza National Museum. The insured works are part of the lease agreement signed with Baroness Carmen Thyssen-Bornemisza de Kaszon and her son Alejandro Borja Thyssen-Bornemisza Cervera.
The works were Insured for 1 billion 600 million euros It will be valid throughout 2024. Among the insured jobs Includes Paul Gauguin’s ‘Mata Mua’As published by the Official Government Gazette (BOE).
The rental agreement for the works was signed in 2022 after long negotiations. 15-year validity for €6.5 million per year. The agreement provides for the collection to be housed in the public museum, disseminated nationally and internationally through temporary exhibitions within and outside its facilities, and temporary loan to other museums. Lessors may freely dispose of the three works in the collection, with the exception of Paul Gauguin’s ‘Mata Mua’, at any time during the validity period, including sale to third parties.
Culture also gave assurance 11.5 million euros for seven other workswhich also belongs to Borja Thyssen-Bornemisza and is about to be exhibited in the permanent exhibition of the Thyssen-Bornemisza National Museum, including Richard Estes’s ‘Self-Portrait near Oculus World Trade Center’; ‘The Baptism of Christ’ by Corrado Giaquinto and Vivien by Alex Katz.
The BOE also issues the sovereign guarantee. Two works by El Greco It is on display in the permanent collection of the Museo del Greco in Toledo. These are the works ‘Santiago el Menor’ and ‘San Simón’, insured for 2 million euros.