Collector Pakh ready to take back his Munkácsy masterpiece

Sights

The Hungarian-born American art collector Imre Pakh said in a statement on Sunday that he will have Mihály Munkácsyʼs monumental painting "Golgotha" removed from the Deri Museum in Debrecen because talks on the possible sale of the work to the state have fallen through.

 The painting is one of Munkácsyʼs famous "Christ Trilogy" and is currently on loan to the Deri Museum, where all three paintings are on display.

The Hungarian-born American art collector Imre Pakh said in a statement on Sunday that he will have Mihály Munkácsyʼs monumental painting "Golgotha" removed from the Deri Museum in Debrecen because talks on the possible sale of the work to the state have fallen through. The painting is one of Munkácsyʼs famous "Christ Trilogy" and is currently on loan to the Deri Museum, where all three paintings are on display.

The state has owned "Ecce Homo!" for years and it recently acquired "Christ Before Pilate", another of the three, from Canadaʼs Art Gallery of Hamilton for $5.7 mln, with funding from the National Bank of Hungaryʼs (MNB) program to buy national art treasures. Ferenc Gerhardt, deputy governor of the central bank, said on public television last week that the bank would pay $6 mln to acquire the painting, though Pakh is asking for $9 mln.

Pakh said in the statement that the painting would be removed on June 25. "Until then, if the opinion of the National Bank of Hungary or its deputy governor, Ferenc Gerhardt, changes, or if another government body or institution shows interest in the painting, I am at their disposal," he added. Pakh noted that Christieʼs, Sothebyʼs and Fine Art Asset Management had appraised the painting and all had put its value around 10 million dollars.

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75% MNB

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

Spar Magyarország Revenue Climbs Close to 16% in 2023 Retail

Spar Magyarország Revenue Climbs Close to 16% in 2023

Hungary Launches HUF 15 bln Tourism Sector Support Program Tourism

Hungary Launches HUF 15 bln Tourism Sector Support Program

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.