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The very first eyewitness representation of Niagara Falls, a 1762 topographical watercolor by Thomas Davies, is at risk of being exported from the UK unless a buyer can be found to match the £151,800 asking price.

In order to provide a last chance to keep it in the UK, Culture Minister Ed Vaizey has placed a temporary export bar on the watercolor by Captain Thomas Davies, An East View of the Great Cataract of Niagara.

The topographical watercolor of Niagara Falls by Captain Thomas Davies provides the very first accurate portrait of this iconic landscape, which has become one of the most recognizable views in the world. It was also the earliest inclusion of Niagara’s ever-present rainbow.

A UK government export bar has been placed on a recently rediscovered and gloriously light-filled harbor scene by the 17th-century French painter Claude Lorrain. The painting, considered one of the finest examples of Claude’s seaport scenes, will leave the UK unless £5,066,500 can be raised following its purchase by an overseas buyer.

The export bar was ordered by the culture minister, Ed Vaizey, on the recommendation of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA), which decides on whether art should be considered of national importance and worth trying to keep in the UK.

A remarkable collection of Italian Baroque paintings worth $155 million has been donated to galleries and museums across the UK. The works were previously part of the private collection of Sir Denis Mahon, a philanthropist and heir to the Guinness Mahon banking fortune who died in 2011 at the age of 100. Mahon, who began collecting in the 1930s, was an avid believer that admission to public museums should be free of charge. In keeping with his wishes, Mahon’s generous gift will be revoked if any institution charges the public to see them.

The Art Fund charity, which oversaw the exchange, announced that the transfer of 57 Italian Baroque paintings has been completed. The National Gallery has received 25 works; 12 paintings went to the Ashmolean in Oxford; 8 pieces are now in the Scottish National Gallery in Edinburgh; 6 works went to the Fitzwilliam Museum in Cambridge; the Birmingham Museums and Art Gallery received 5 paintings; and one work was given to the Temple Newsam House in Leeds. The gift included works by Guercino (1591-1666), Guido Reni (1575-1642), Domenichino (1581-1641), and Ludovico Carracci (1555-1619).

In addition to the sizable donation, Mahon left $1.5 million to the Art Fund and 50 works associated with Guercino to the Ashmolean.  

The success of Sotheby’s and Christie’s Impressionist, Surrealist, and Modern sales in London this week is proof that the demand for such works is on the rise. On February 6, 2013 Christie’s brought in $214 million worth of sales, just one day after Sotheby’s evening auction garnered $228 million.

The top lot at Christie’s was Amedeo Modigliani’s (1884-1920) portrait of his common-law wife titled Jeanne Hebuterne (au chapeau) (1919). The work, which was completed just one year before Modigliani’s death, sold for $42.1 million to one of Christie’s Russian-speaking client services representatives, who was bidding on behalf of a client. The work significantly surpassed its high estimate of $34.5 million.

Other major sales from Christie’s auction included Rene Magritte’s (1898-1967) landscape Le plagiat (Plagiary) (1940), which sold for nearly $8.2 million, Pablo Picasso’s (1881-1973) Nu accroupi (1960), which went for $11.4 million, and Pierre-Auguste Renoir’s (1841-1919) L’ombrelle (1878), which garnered $15.2 million.

With 89% of lots sold, the sale was a record in the Impressionist, Surrealist, and Modern category by Christie’s in February in the UK.

Over fifty major works totaling about $64 million were offered as payment to the UK for nearly $40 million worth of inheritance tax that accumulated between 2010 and 2012. Those in control of the estates of authors, artists, and collectors have been allowed to use cultural and historical artifacts to pay the tax since 1910.

The UK has recently received a number of masterpieces including two oil portraits of aristocratic families by Sir Joshua Reynolds, a renowned 18^th century English artist. One portrait will be placed in the Tate and the other will go to the Bristol Museum and Art Gallery. Other works include two landscapes by JMW Turner; an oil sketch by Peter Paul Rubens titled The Triumph of Venus that will be placed in Cambridge’s Fitzwilliam Museum; a work by Italian 17^th century master Guernico that has been allocated to the National Gallery; and four sculptures and three works on paper by Barbara Hepworth.

The ability to donate significant works to pay off inheritance tax has introduced a number of remarkable pieces to the UK’s galleries and museums, bringing monumental works out from behind closed doors and into the public arena.