LONDON.- The Art Fund and the National Portrait Gallery announced that the campaign to save Van Dyck’s self-portrait for the nation has received a significant boost. Following discussions between the owner of the painting, Alfred Bader, the art dealer Philip Mould, and the collector, James Stunt, the National Portrait Gallery now has the opportunity to purchase the work for £10 million.

This new offer gives the Save Van Dyck campaign, which has four months remaining and originally needed to raise £12.5 million, an improved chance of ensuring that the portrait remains on public display forever. The application process for an export licence has also now been halted.

To date the campaign has raised £3.6 million, with contributions already made by more than 8,000 members of the public. The campaign has until 20 July 2014 to raise the remaining funds.

Stephen Deuchar (Director, The Art Fund) and Sandy Nairne (Director National Portrait Gallery) said:

‘Following this turn of events we are grateful for this helpful development which now offers a better chance for this special painting to be acquired for the nation and shared with everyone.’