So important was its acquisition that The National Art Collections Fund, the UK’s largest independent art charity, awarded it the largest grant in its 96-year history – £550,000. Major grants also came from the Heritage Lottery Fund (£7.69m) and the Scottish Executive (£500,000). The remaining gap was filled by the gallery’s own funds (£1.5m) and donations from Scottish companies and private benefactors. The total cost of the painting was £10.25m, after tax remission, with a gross price of £15m.
Botticelli scoop for Scottish gallery
UK: A RARE catch indeed, the most important painting of its period in a British private collection, Botticelli’s Virgin Adoring the Christ Child, c.1490-1500, pictured right, has been acquired by the National Gallery of Scotland from the 10th Earl of Wemyss and March, who was about to sell it to America.