The painting, called ‘The High Street, Oxford’, was loaned to the museum by a private collector back in 1997, but the Ashmolean was required to find £860,000 to retain it on a permanent basis.
It was donated to the nation to cover inheritance tax, but a valuation of £3.5 million ensured its worth was greater than the sum due, leading to a campaign to raise the amount needed to meet this difference.
The Heritage Lottery Fund stepped in with a £550,000 grant, while another £220,000 was supplied by the Art Fund, with Friends and Patrons of the Ashmolean contributing £30,000.
This left the museum needing £60,000 to reach its target and, happily, residents of Oxford and people visiting the museum generated the required amount within four weeks.
The Ashmolean’s director, Alexander Sturgis, said that they were thrilled by the response to their plea for assistance.
Stephen Deuchar from the Art Fund added:
“It would have been such a tragedy to lose this beautiful and important work by Turner, and clearly the public felt the same. We’re proud to stand alongside everyone who contributed generously to make this happen.”
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