THE ROYAL ACADEMY CANCELS SHOW OF PRINCE OF LIECHTENSTEIN'S ART COLLECTION

A MAJOR LONDON EXHIBITION OF TREASURES FROM THE PRINCE OF LIECHTENSTEIN'S COLLECTION HAS BEEN CANCELED BECAUSE OF A DISPUTE OVER THE EXPORT OF ONE OF THE PRINCE'S PAINTINGS. THE SHOW BILLED AS ONE OF THE HIGHLIGHTS OF THE 2010 SEASON AT THE ROYAL ACADEMY, AND THE PRESTIGIOUS GALLERY IS NOW WORKING ON ALTERNATIVES TO FILL ITS MAIN GALLERIES BETWEEN SEPTEMBER AND DECEMBER NEXT YEAR. 'AFTER MONTHS OF PLANNING. . . WE ARE OF COURSE VERY DISAPPOINTED THAT THE PRINCE OF LIECHTENSTEIN HAS DECIDED TO CANCEL THE EXHIBITION', A SPOKESPERSON FOR THE GALLERY SAID. 'THIS IS OWING TO AN UNRELATED CRIMINAL INQUIRY INTO THE EXPORT OF A GROUP OF PAINTINGS BOUGHT IN LONDON BY THE PRINCE OVER THREE YEARS AGO.' THE DISPUTE CENTERS AROUND THE SPANISH RENAISSANCE PAINTING 'THE INFANTE DON DIEGO' BY SANCHEZ COELLO WHICH WAS PURCHASED BY THE PRINCE FROM THE BRITISH OWNER VIA A LONDON DEALER IN 2006. IN 2007 THE BRITISH AUTHORITIES DEFERRED A LICENSE TO EXPORT THE WORK, UNOFFICIALLY VALUED AROUND $3.3 MILLION, IN ORDER TO ALLOW TIME FOR AN ALTERNATIVE BUYER TO RAISE THE NECESSARY FUNDS TO KEEP IT IN THE COUNTRY. ACCORDING THE HM REVENUE 7 CUSTOMS, WHICH IS HANDLING THE CASE, THE PAINTING HAS BEEN RETURNED TO THE PRINCE'S REPRESENTATIVES BUT IS STILL BARRED FROM EXPORT. JOHANN KRAFTNER, DIRECTOR OF THE COLLECTION OF THE PRINCE OF LIECHTENSTEIN, TOLD REUTERS THAT NEITHER THE PRINCE NOR THE COLLECTION WERE ANY WAY INVOLVED IN THE INVESTIGATION. ACCORDING TO KRAFTNER, THE ONLY WAS THE SHOW COULD BE STAGED AS PLANNED WAS FOR THE PRINCE TO ACCEPT A BRITISH GOVERNMENT INDEMNITY TO PROTECT HIS LOANS, SINCE COMMERCIAL INSURANCE WOULD BE TOO EXPENSIVE FOR THE ROYAL ACADEMY TO AFFORD. 'WE HAVE BEEN ASKED TO ACCEPT TEH BRITISH STATE INDEMNITY', HE SAID. 'WE WORKED UP TO THE LAST MOMENT, WE FELT VERY BADLY TREATED.' HE SAID THE EXHIBITION, TO HAVE INCLUDED WORKS BY FLEMISH MASTER PETER PAUL RUBENS AMONG OTHERS, WOULD HAVE BEEN MORE SPECTACULAR THAN A 1985/6 SHOW OF THE PRINCE'S COLLECTION HELD IN NEW YORK. ANOTHER ROYAL ACADEMY 'BLOCKBUSTER', 'FROM RUSSIA', OPENED IN 2008 DESPITE A ROW OVER THE OWNERSHIP OF PRICELESS TREASURES THAT HAD THREATENED TO DERAIL IT. GOVERNMENT ASSURANCES THAT RUSSIA WOULD NOT LOSE DISPUTED PAINTINGS BY THE LIKES OF VAN GOGH AND CEZANNE HELPED SAVE THE EXHIBITION.