Royal Opera Property in London is marketing a David Hockney painting to stay afloat in wake of coronavirus shutdown

The Royal Opera is hocking a Hockney.

Britain’s premier opera residence is promoting off a portrait of previous chief Sir David Webster, painted by David Hockney, in purchase to remain afloat.

“Portrait of Sir David Webster” will be provided for sale in London on Oct. 22, Christie’s auction dwelling instructed the Connected Press. It’s expected to fetch between $14 million and $23 million.

Hockney painted the portrait in 1971 just after Webster stepped down as the company’s general administrator, in accordance to AP. Webster died later that calendar year.

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The Royal Opera Household will offer a David Hockney portrait of its previous boss to raise revenue.

The Royal Opera Household will offer a David Hockney portrait of its former boss to elevate money.

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Hockney, 83, is regarded as 1 of the most influential British artists of the 20th century, in accordance to Biography.com.

Webster ran the Royal Opera Home from 1945 to 1970, in accordance to BBC News, and was a driving power in establishing the Royal Ballet and Royal Opera businesses at Covent Backyard garden.

The Royal Opera Property, like quite a few other venues, had to shutter in March as the pandemic took keep. Amid a lot of other cost-slicing measures, moreover a fundraising travel, layoffs and a mortgage application, the opera household had to make some tricky selections, Alex Beard, main govt of the Royal Opera Dwelling, explained to BBC Information.

“We have to confront the scenario we are in… and get by means of this,” he informed BBC Information.

The Royal Opera House is the biggest arts employer in the U.K., and because the coronavirus lockdown began it has missing much of its profits. Though it reopened in June with a broadcast on television, radio and on the net, there was no reside audience, BBC Information explained.

“As we encounter the greatest crisis in our heritage, the sale of David Hockney’s great portrait of Sir David Webster is a very important section of our strategy for recovery,” Beard explained in a assertion acquired by Reuters. “The proceeds will be made use of to make sure that the world’s biggest artists can once far more return to our phases.”