Scotland’s National Gallery buys itself a Titian for £11 million. The painting has hung on loan to the gallery for 60 years. “It took more than two years to complete the deal, using £7.6m worth of lottery funding and a £2.5m contribution from the Scottish executive. The rest of the money came from the National Art Collections Fund and the National Galleries. To facilitate the sale, £2.4m of the picture’s value was offset against inheritance tax.”