British art mogul Charles Saatchi made a £500,000 profit selling a sculptural installation by Jake and Dinos Chapman to the Tate, reports Artnet via a press release by the Stuckists, a group founded in 1999 to promote figurative painting.
Saatchi reportedly bought the installation, The Chapman Family Collection, for £1 million in 2002 and sold it to the Tate in July 2008 for £1,500,000. Charles Thomson, one of Stuckism's founders, questions in the release why the museum would pay such a large sum of money for the installation when they often complain of money shortages. Thompson further inquires why the museum did not ask the Chapmans to donate the work when they have often asked notable artists to do so.
The Chapman Family Collection consists of 34 carved and painted figures "of faux-African sculptures with MacDonald's emblems" and has been cited as influential in the Chapmans' being shortlisted for the Turner Prize in 2003.
Like what you see?
Sign up for our DAILY NEWSLETTER and get
our best stories delivered to your inbox.
Comments