Bank of Ireland is selling off its art collection and is hoping to raise €1m in the process. The auction will happen on November 24 and highlights of what is on offer go on display from this week.
Bank of Ireland would have had a significant budget to support the arts. Since the Government bail-out, that discretion is removed from it so the proceeds from this sale are going to community arts organisations.
The auctioneers, Adams on St Stephen's Green, are not charging a sellers' commission so the full price paid will go to the art groups.
Among the art for sale is a Robert Ballagh painting - a large oil called 'Woman with Barnett Newman with a guide price of €40,000 to €50,000. Adams said that at the height of the exuberance, their guide might have been between €60,000 and €100,000.
There are also three Louis le Brocquy works for sale.
