Ireland

RTÉ paintings go on sale at Sotheby's to tackle financial losses

RTÉ recorded a loss of €13 million last year
RTÉ recorded a loss of €13 million last year RTÉ recorded a loss of €13 million last year

ARTWORK owned by RTÉ went under the hammer at Sotheby's in London yesterday in a bid to aid the state broadcaster's financial problems.

A painting by Louis Le Brocquy, Táin, which was commissioned in 1966, sold for €102,542 while another piece was to be auctioned last night.

Last year RTÉ recorded a loss of €13 million which it attributed to the Papal visit, the presidential election and coverage of the FIFA World Cup.

Half of yesterday's proceeds will go to the The Arts Council as it had bought Táin jointly with RTÉ.

Two other works owned by the broadcaster, Le Brocquy's The Massing of the Armies and Inscape 'Mozaga' by Tony O'Malley, were not sold while a painting by George Campbell called Symphony Orchestra was withdrawn prior to auction and sold privately.

RTÉ has said that all monies raised be reinvested in the organisation.

However, it is expected it will make less than half the money that it had hoped from the sale of five pieces.

Last month, it was reported that bosses had hoped to raise as much as €1 million by selling off the works.

RTÉ's Director General Dee Forbes revealed its poor financial situation earlier this year.