Word: gulbenkian
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Washington's National Gallery opened a long-awaited loan show this week: 40 paintings from the collection of Oil Tycoon Calouste Sarkis Gulbenkian. Publicity-hating Gulbenkian, one of the richest men in the world (TIME, June 16, 1947 et seq.), was not on hand for the festivities; at 84, the Near East genius spends most of his time in his adopted Lisbon...
What Washington gallerygoers saw was only a part of Gulbenkian's collection, but it was enough to establish him as one of the most assiduous art buyers of the 20th Century. Among the prize packages in the show at the National were Rubens' luxurious, full-length portrait of Helena
Armenian-born Calouste Gulbenkian, 84, who now lives in Lisbon, is a man of double distinction: 1) from a lifetime of dealings in Middle East oil, he has become one of the richest men in the world; 2) by judicious purchases, he has put together one of the finest collections of old masters in existence (TIME, Feb. 14,1949). Neither of his distinctions was achieved without a knowledge of the ground rules. Last week, to get some ground rules changed, Collector Gulbenkian had the busy U.S. Congress amending the Internal Revenue Code for him. The change would also work...
Under the present code, Gulbenkian had pointed out, U.S. inheritance taxes must be paid on foreign-owned works of art if the owner dies while the art is on loan in the U.S. Gulbenkian was perfectly willing to let Washington's National Gallery display 41 of his old masters (including some priceless Rembrandts and Rubenses once owned by the czars). But if the National Gallery wanted to keep the paintings for any "appreciable" time, the code would have to be fixed...
...from the National Gallery, the House passed H.J.Res.497. When the Senate concurs and Harry Truman adds his signature, foreign-owned works of art on loan to the National (or to other galleries approved by the National) will be exempt from U.S. death taxes. And the cream of the Gulbenkian collection will go on view this fall for at least two years...