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Louis le Brocquy.

RTÉ sells off Louis le Brocquy painting for €102,000

The national broadcaster is dealing with a serious financial crisis.

JUST ONE OF three paintings put up for auction by RTÉ at Sotheby’s in London managed to sell.

The only lot to sell was lot 73, Louis le Brocquy’s Táin. This was sold for €102,253, after bidding on the phones and the internet – but it was a room bidder who secured the painting. 

It had a bid of €58,390 prior to the auction and was valued at between €81,746 and €116,780. However, the €102,253 reached will be split 50/50 between RTÉ as the Arts Council, as the council financed half of the purchase. This means RTÉ will receive around €50,000.

The national broadcaster will also have to pay a private vendor’s commission to Sotheby’s.

Another Louis Le Brocquy, The Massing of the Armies, had a bid of €99,263 prior to the auction and was valued at between €140,000 and €210,000 – but did not sell as it reached only €110,000 in the room, some €30,000 lower than its starting estimate.

The two Le Brocquys were commissioned by RTÉ in 1966 and 2000.

Lot 86, by the late award-winning Tony O’Malley, Inscape Mozaga, had a prior bid of €12,845 and was valued at €17,517 to €29,195, but did not sell as it reached only €16,349.

Another painting, George Campbell’s Symphony Orchestra, was also listed with an estimated price of between €26,950 and €41,000. The lot was withdrawn prior to the sale and it has been sold privately.

If all of the paintings had sold, including Symphony Orchestra,  for the higher price they would have raised €691,300.

A spokesperson for Sotheby’s said: “Just one of the paintings sold and the commission to be paid to us by RTÉ is agreed privately and is on a sliding scale. The amount paid on commission is on a case by case basis.

“I can confirm that the George Campbell painting was sold privately prior to the auction but cannot say how much it was sold for.”

He said they would not be commenting on the next move by RTÉ on when and if the paintings which did not sell would go back on the public market or were to be sold privately.

RTÉ’s takings from the sales will be further reduced because it has to split the proceeds from the sale of Táin and Abstract Painting with the Arts Council because it helped to fund the original purchases. 

RTÉ financial situation has been under considerably pressure in recent years, recording losses of €20 million in 2016 and €13 million in 2018. 

In a statement, the national broadcaster said all proceeds raised from the sale of the art works will be reinvested in the organisation.

“The five art works put up for action by RTÉ are part of a wider collection which dates back over 50 years. While the proceeds raised in the auction will be reinvested in the organisation, as previously stated, RTÉ is well aware that this sale will not solve our financial issues. In this regard, RTÉ recently published a plan which we are confident can address many of the challenges we face and bring Ireland’s national public media to stability.”

RTÉ said it has no further comment while the auction is ongoing.

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    Mute ThomasFrancisMeagher
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    Dec 16th 2013, 7:28 AM

    The Chinese need to have a word with young Kim before he does something stupid & starts a war that nobody wants.

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    Mute Sean O'Keeffe
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    Dec 16th 2013, 10:16 AM

    On November 3rd, the marxist state carried out 80 public executions in seven cities for crimes ranging from the distribution of pornography and foreign merchandise to possession of a Christian bible. It has been reported that children witnessed executions in at least one case.

    According to Amnesty International North Korea executed 30 people in 2011 and 6 last year. At least 100 have been executed this year. This would appear to show that North Korea’s authorities has recently acquired a blood-lust.

    The reasons for the marked increase in rates of executions are not clear, but according to JoongAng Ilbo (the South Korean newspaper that originally reported the story) the show-piece executions were “an extreme measure by the central government to stamp out public unrest or capitalistic zeal accompanying its development projects.”

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    Mute Mick Jordan.
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    Dec 16th 2013, 12:44 PM

    Might not do any good with this lunatic Thomas. Uncle Jang was Beijing’s man in the Government. I think he actually believes his own propaganda that NK doesn’t need anyone.

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    Mute Eamonn O'Riain
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    Dec 16th 2013, 7:47 AM

    An interesting approach to weeding out corruption in government.
    Why don’t we give it a whirl??

    63
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    Mute Ed Appleby
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    Dec 16th 2013, 11:14 AM

    The army wouldn’t have enough bullets to shoot the amount of corrupt greedy parish pump dictators and half arsed teachers who infest the political system in Ireland. Anyway you get what you vote for.

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    Mute James O'Sullivan
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    Dec 16th 2013, 8:13 AM

    Old Moores Almanac says that a certain short fat arrogant little dictator will be gone by mid 2014.
    No idea where he’s going though…..although Florida was mentioned.

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    Mute MGrey
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    Dec 16th 2013, 9:59 AM

    I thought Rabbitte was on his way to Europe?

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    Mute declan hegarty
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    Dec 16th 2013, 7:30 AM

    I think Kim got the right idea…….. He knows how to keep his cabinet on their toes…………or on their backs

    If Enda was more like him our no2 would be shaking in his boots

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    Mute Kerry Blake
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    Dec 16th 2013, 12:38 PM

    Ah don’t worry Enda’s got his report cards….

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    Mute William Grogan
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    Dec 16th 2013, 9:22 AM

    “Pyongyang labelled him a drug-addicted womaniser who frequented foreign casinos with embezzled state funds.”

    Sounds like a family trait, Kim Jong-Un’s brother was a fan of the casinos too.

    It’s very hard to see this dictatorship ending peacefully.

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    Mute Shit you not
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    Dec 16th 2013, 8:39 AM

    Nuke em!

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    Mute MrKnow
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    Dec 16th 2013, 9:08 AM

    Is that you john mc cain??

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    Mute Dom AcePlazo
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    Dec 16th 2013, 7:44 AM

    Just let them get on with it and keep sending the food parcels.

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    Mute ptriley
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    Dec 16th 2013, 11:24 AM

    Let them eat cake or rice cake even !

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    Mute Donal O Neil
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    Dec 16th 2013, 2:18 PM

    Oh yes the report card no one has seen or heard of since … Bad minister , I’m going to give you 100 lashes and you can write out the constitution 100 times .

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