The most publicly derided acquisition in modern Australian art history has proved to be one of the nation’s bargains of the century. Purchased for $1.3 million, the piece has come to be regarded as one of the most important works of the 20th century.
is now worth a whopping $500 million, according to a new valuation by its keeper, the National Gallery of Australia.A hot global art market that has defied COVID-19 downturns is partly behind the $150 million increase in the painting’s value since its last valuation five years ago. Purchased for $1.3 million in a courageous call by the gallery’s inaugural director James Mollison in 1973, the piece has come to be regarded as one of the most important works of the 20th century.
Though not as famous as its brother,Fifty years ago, Mollison caused a public storm when the-then prime minister Gough Whitlam authorised the purchase of, showcasing Pollock’s “drip” technique, for what was then a world record price for an American painting.His astute purchase was savaged as a waste of taxpayer funds, but Mollison proved those armchair critics wrong. Rarely off display since the National Gallery of Australia opened nine years later,The NGA collection is now worth $6.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New requirement for streaming services to show and make Australian content is ‘positive’Former Labor Senator Stephen Conroy says the new requirement for streaming services to show and make Australian content is “positive” for Australian culture. “I think that’s a positive thing,” he told Sky News host Andrew Bolt. “That levels the playing field and it ensures that Australian stories and Australian culture has a place going forwards. “So I have absolutely no difficulty with that.”
Read more »
Jackson Pollock’s controversial Blue poles valued at $500 millionExclusive: Jackson Pollock’s Blue poles – the most publicly derided acquisition in modern Australian art history – is now worth a whopping $500 million
Read more »
Snap Chinese edict to send students rushing back to Australian campusesThe Chinese Ministry for Education has released a “special announcement” confirming it would only acknowledge degrees awarded to students attending in-person classes.
Read more »
Streaming giants to be required to make Australian films and TV under major rules shake-upFrom mid-2024, the federal government will require major streaming platforms such as Netflix, Disney and Amazon Prime to put some of their revenue back into Australian content.
Read more »
Srdjan Djokovic free to attend men’s Australian Open finalNovakDjokovic’s father is free to attend Sunday night’s AustralianOpen final, but it is unclear if SrdjanDjokovic will be at Rod Laver Arena, where his tennis legend son will try to equal the men’s record for most majors won.
Read more »
Courtside stars at Australian Open women’s finalDon’t believe the critics. There was no lack of star power at the 2023 Australian Open Women’s Final.
Read more »