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Saatchi gives art to Britain

Charles Saatchi, impresario behind the "YBA" art renaissance in Britain, has announced that he will donate his London art gallery and 200 artworks worth an estimated $37 million to the British government. Upon his retirement, which for the fit 67-year old, is "not soon," the gallery will be renamed "The Museum of Contemporary Art, London" and the collection, though publicly owned, will be administered by a foundation that will continue to buy and sell works to fund its operations as it has all along.

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