Royal Opera House sells David Hockney painting and is saved from meltdown by Covid

In London, the Royal Opera House saved itself from financial collapse due to Covid by selling a painting by David Hockney, one of the most highly regarded living artists: the work, Portrait of Sir David Webster from 1971, was sold for the sum of 12 million 865 thousand pounds (14,238,172 euros). The Royal Opera House was in the most severe financial crisis in its long history (it was founded in 1858), and for the time being it got out of it by depriving itself of its jewel, Hockney’s work depicting the historic director David Webster, who ran the Royal Opera from 1945 to 1970: in the painting he is seen sitting in the artist’s studio, on an MR chair by Ludwig Mies van der Rohe. The sale took place at auction at Christie’s.

“Proceeds from the sale,” a Christie’s spokesperson announced, “will contribute to the vital funding of the world-renowned arts institution in order to alleviate the financial impact of the coronavirus. This will enable the Royal Opera House not only to survive, but to thrive in its future programming.”

“As we face the greatest crisis in our history,” said Alex Beard, chief executive officer of the Royal Opera House, “the sale of David Hockney’s wonderful portrait of Sir David Webster is a vital part of our strategy to recover financial resources. The painting sold for £12,865,000 and the proceeds will be used to ensure that the world’s greatest artists can return to our stages once again. This will enable the Royal Opera House to support our community of artists during this period and continue to delight audiences for decades to come with ballet, music and opera.”

Pictured, David Hockney’s work sold for nearly 13 million pounds.

Royal Opera House sells David Hockney painting and is saved from meltdown by Covid

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