A painting of two Tahitian girls by French artist Paul Gauguin has become the world's most expensive painting after being sold for a record $300 million (AU$385 million).
The 1892 painting, Nafea Faa Ipoipo (When Will You Marry?), was reportedly bought by Qatar to be placed in its state-run museum. However, the country is yet to confirm the purchase, the Wall Street Journal reported.
The country previously held the record for most expensive painting, after buying Paul Cezanne's Two Card Players in 2011 for £160 million (AU$311 million).
The Gauguin painting was previously owned by the Swiss Rudolf Staechelin Family Trust. Staechelin is a retired Sotheby's executive and a passionate art collector. The painting had been housed in a museum in Basel, Switzerland for the past few decades until the sale.
The sale highlights a growing trend in Qatar of acquiring Western artwork for high sums.
Qatar Museums, who reportedly bought the painting according to the New York Times, has spent more than $1 billion on prestigious pieces of work.
Philip Hoffman, chief executive of London-based consultancy organisation, the Fine Art Fund Group, said: “We’re seeing a huge amount of build-up of private wealth, and we’re seeing those people allocate funds disproportionately to art collections.
People think if they buy the best you’ll never lose money. It has become the ultimate status symbol to be surrounded by $500million or $1billion worth of art which no one else can have.”
Qatar's museum services is headed up by the sister of the Emir of Qatar, Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani.
As well as the Cezanne , she also oversaw the purchase of works by Andy Warhol, Damien Hirst and Mark Rothko.
By Rory Darvin
With thanks to Billionaires Australia
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