The money generated was put into the museum's acquisition fund.

It is hard to imagine acquisition funds more wisely spent.

"Even though our acquisition funds are ample, given the state of the market today we have limits, too" she said.

The museum bought the painting, which experts said could be worth up to $500,000, with two acquisition funds.

The balance of capital raised will be added to existing cash to create a £2 million acquisition fund.

The museum bought the painting partly with its acquisitions funds.

"At the moment, the government's acquisitions fund is pathetically low."

The museum, which has had the collection since the 1930's, is selling them to bolster its acquisitions fund.

He has proposed a national lottery to finance a special acquisitions fund.

In 2003, Outset established the world's first acquisitions fund connected to an art fair.