Word: duveens
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Nearly 50 years ago this and three other Siena back panels were found in an Italian antique shop by the late British Collector Robert Henry Benson. In 1927 his entire collection was bought by Lord Duveen for $3,000,000, brought to the U. S. Lord Duveen quickly wrote off a third of his investment by selling the four Duccios for $1,000,000, two to John D. Rockefeller Jr., one to the Frick Collection, and the fourth to Mr. Mackay who sold it to Mr. Kress for exactly what he paid for it less the Duveen commission...
Last week in Washington Mellon's lawyers produced experts to drum home the undoubted fact that the five pictures are valuable. Baron Duveen of Millbank, probably the world's richest art dealer, agreed to the identity of the five pictures...
...Eyck's Annunciation, $503,010, "worth $1,000,000," said Lord Duveen. "I will give $750,000 for it right...
...five came from Soviet Russia's Hermitage Museum (TIME, March 4). "The Hermitage," drawled Lord Duveen last week, "is no longer a great collection. It has gone to pieces because of Mellon's purchases." This was poppycock, in the opinion of most critics, who believe that the Hermitage was able easily to spare Mellon's $3,247,695 worth with the sole exception of the Perugino, which cost the least...
...unexpected stroke for Mellon's contention that he will really give the U. S. his great sugar plum fell last week when Duveen popped out, under the Government's cross-questioning, that he (Duveen) actually suggested a definite site for the Mellon museum: a spot "by the obelisk near the pond" (Duveen British for the Washington Monument), that he had recommended a British architect to Mellon and that he had actually seen rough sketches of the museum plans...