The works of Spanish artist Miró, valued at up to €37 million, were set to be offered for sale in three auctions, along with other twentieth century works of art, between 4 and 5 February in London.
The Miró collection has been in state hands ever since the corruption-riddled Banco Portugues de Negocios was hastily nationalised in 2008 at the start of the economic crisis.
Miró, the Barcelona-born artist, was influential in the surrealist movement in the 1920s and developed his signature colorful style, full of squiggles and symbols, during a long career that lasted until his death at 90 in 1983.
The auction includes the 1968 oil painting 'Women and Birds,' and the oil-on-canvas 'Painting,' valued €3 to €4 5 million. The catalogue also includes works on paper and a series of paintings on Masonite from the 1930s. The cheapest lots start at about €12,000.
Olivier Camu, Christie's deputy head of Impressionist and modern art, said the sale gave collectors with a wide variety of budgets a chance to "celebrate and engage with the creative genius and joyous immediacy of Miró's work." The 85 works currently are displayed in seven rooms of the Christie's auction house.
However there is a problem as a petition to keep the works in Portugal has just been approved by the government's Committee for Education, Science and Culture.
The petition already has gathered more than 8,600 signatures and has been sent to the European Parliament to inform it of the situation.
Since the announcement that the Portuguese state was to auction the collection, interested parties from around the world have been in contact, including enquiries from Portugal but the painting may yet be withdrawn after the announcement of the Miró auction sparked a wave of protests by thousands of Lisboetas who demanded the government review the decision and keep the collection intact and in Portugal.
The price before the crisis is estimated as having been double the current market value and if the government keeps the collection there will be additional long-term cost for housing and insurance, offset by a public eager to see the work.
