Royal Opera House’s David Hockney Painting Fetches £ 12.8 million Amid The Pandemic; Video Inside
Royal Opera House auctioned David Hockney painting on October 22, 2020, Thursday, to help it survive during the crisis. It fetched £ 12.8 million amid the COVID-19 pandemic. Check details
The David Hockney painting fetched £ 12.8 million amid the COVID-19 pandemic. Royal Opera House auctioned it on October 22, 2020, Thursday, to help it survive during the crisis. The 1970s portrait features the institution’s former chief Sir David Webster, who ran the Royal Opera House from 1945 to 1970. They put it up for auction at Christie’s on October 22, with an estimated value between 11 and 18 million pounds. Here is everything you need to know about David Hockney’s painting of Sir David Webster. Read on:
Meanwhile, Christie’s Auction House reportedly described the portrait by David Hockney as ‘an extraordinary painting that perfectly captures the artist’s mastery of paint and flair for colour’. Check out the painting in the video below. Watch:
Royal Opera House’s David Hockney painting fetches £ 12.8 million amid the pandemic
Alex Beard, chief executive of the Royal Opera House, London reportedly said in a statement that they were facing the ‘biggest crisis in history’ and that they had lost £3 in every £5 of income. He added that the sale of David Hockney’s portrait of Sir David Webster was a ‘vital part’ of their strategy for recovery. Talking about the proceeds, the chief executive explained that its usage would ensure that the world’s greatest artists could return to their stages.
Royal Opera House under losses during COVID-19 lockdown
Earlier, the Royal Opera House had to struggle after the United Kingdom went into lockdown in March after the first wave of COVID-19 outbreak. So, it hasn’t been able to generate revenue since that time. As per Alex Beard, the sale was a part of the Royal Opera House’s pandemic recovery plan including cost-cutting measures, the fund from people, seeking government, assistance, and utilizing value from the assets.
After remaining shut for a few months, the Royal Opera House reopened in June. However, due to the pandemic, there has been no live audience, but the performances were streamed online. Moreover, it launched a fundraising campaign to sustain its community of artists. On the other hand, London’s West End reportedly suffered due to the pandemic. While the government released £ 1.57 billion support fund for the industry, people believed that it was not enough for sustenance.