This is interesting:
The Polish government has bought a world-famous art collection, including a rare Leonardo da Vinci painting, for a fraction of its market value.
The Czartoryski collection was sold for €100m ($105m; £85m) despite being estimated at about €2bn.
The head of the Czartoryski family, which owned the collection, said it was a “donation”, but the board of its foundation resigned in protest.
The Czartoryski Foundation’s management board said it was not consulted about the sale, which was negotiated between Poland’s culture ministry and Adam Karol Czartoryski, a descendent of Princess Izabela Czartoryska, who founded the collection in 1802.
Mr Czartoryski, the foundation’s head, said he was following his ancestors who “always worked for the Polish nation”.
“I felt like making a donation and that’s my choice,” he said.
I have no idea how foundations work, let alone how this one worked, but I suspect Mr Czartoryski (or his forebears) ceded partial control of the Czartoryski Foundation to a board but retained certain rights, one of which was the right to flog the collection.
The Czartoryski Foundation’s board of management said it did not oppose selling the collection to the government, but that it was concerned that selling without due diligence – including estimating a fair price – may be against its bylaws, Reuters reported.
It may be? You’d have thought a board of management would know this, wouldn’t you? I suspect they are just pissed off they’ve been utterly bypassed by Czartoryski and/or stood to gain something should the collection have been sold at full price.
Either way, it’s hard to see what Czartoryski has done wrong.
Chairman Marian Wolkowski-Wolski told the news agency there was a risk of the collection’s eventual dispersal out of public control.
Erm, it wasn’t in public control when it was part of the Czartoryski Foundation. What angle are you pushing here, madam?