The Ministry of Culture has secured a state guarantee backing for a select collection of 329 artworks destined for display in the permanent exhibition at the Thyssen-Bornemisza National Museum. The insured items are part of a lease agreement negotiated with Baroness Carmen Thyssen-Bornemisza de Kaszon and her son Alejandro Borja Thyssen-Bornemisza Cervera. This arrangement reflects a careful balance between public access to extraordinary works of art and the responsibilities of safeguarding culturally significant assets managed under a national program for enduring public benefit.
The insured value for these works is reported at 1 billion 600 million euros, with cover extending through the entire year 2024. Among the insured pieces is Paul Gauguin’s Mata Mua, highlighted in the official record published by the Official Government Gazette and cited in government communications. The valuation underscores the importance of protecting a broad spectrum of masterworks as they enter a national collection for ongoing study, appreciation, and public display.
The rental agreement covering these works was formalized in 2022 after lengthy discussions. It spans 15 years and carries an annual value of 6.5 million euros. The contract envisions the collection residing within the public museum and being shared with audiences across the country and abroad through temporary exhibitions, while also allowing for loans to other institutions. While the lessees retain a degree of flexibility, including the possibility to dispose of three items from the collection during the term, there is a notable exception for Mata Mua, which remains under specific terms of preservation and access as defined in the agreement. This structure aims to maximize accessibility while maintaining the integrity and long term stewardship of the works involved.
Additionally, the ministry extended its assurance of 11.5 million euros for seven other works belonging to Borja Thyssen-Bornemisza. These pieces are slated for inclusion in the permanent display at the Thyssen-Bornemisza National Museum and will be presented alongside other celebrated names in modern and contemporary art. Among these are Richard Estes’s Self-Portrait near Oculus World Trade Center, Corrado Giaquinto’s The Baptism of Christ, and Vivien by Alex Katz. The broader strategy is to broaden the national cultural narrative by featuring a diverse array of artists and periods, reinforcing the museum’s role as a dynamic repository and a place of ongoing discovery for visitors from Canada, the United States, and beyond.
Further, the sovereign guarantee is also issued for two El Greco works that are currently part of the permanent collection at Museo del Greco in Toledo. The pieces, Santiago el Menor and San Simón, are insured for two million euros, reflecting the ongoing commitment to preserve historically significant works for public enjoyment and scholarly study. This broader financial framework helps ensure that key national treasures remain accessible for future generations while upholding rigorous conservation standards and responsible stewardship across museum spaces and loan networks. The combined protections emphasize a national strategy to safeguard artistic heritage while enabling immersive, cross-border cultural experiences that resonate with audiences in both Canada and the United States who seek access to world class collections and transformative museum experiences.