The State guarantees 94 Prado works and a royal Velázquez

The Ministry of Culture has granted State guarantees for 94 works to be exhibited in two temporary exhibitions at the Museo Nacional del Prado and for one painting by Diego Rodríguez de Silva y Velázquez destined for the Gallery of the Royal Collections. The decision is published in the Official State Gazette (BOE) number 203, dated August 19, 2026, through three ministerial orders signed on August 11.

The guarantee, which covers the destruction, loss, theft, or damage of the pieces, is granted at the request of the applying institutions and covers a combined economic value exceeding 313 million euros. The three orders are issued under the ninth additional provision of Law 16/1985, of June 25, on Spanish Historical Heritage, and Royal Decree 1680/1991, of November 15, which develops it.

Two exhibitions at the Prado

Order CLT/868/2026 (reference BOE-A-2026-17941) guarantees 29 works for the exhibition “Mariana of Austria,” which will be held at the Prado from November 30, 2026, to March 28, 2027. The economic value of these pieces amounts to 97,932,896.43 euros.

Order CLT/869/2026 (reference BOE-A-2026-17942) covers 65 works for the exhibition “Rilke and Spanish Art,” open from November 16, 2026, to March 7, 2027, with a total value of 180,879,547.68 euros.

• 29 works for “Mariana of Austria” (11/30/2026 – 03/28/2027).
• 65 works for “Rilke and Spanish Art” (11/16/2026 – 03/07/2027).
• Combined value of the 94 pieces: 278,812,444.11 euros.

A Velázquez in the Royal Collections

Order CLT/870/2026 (reference BOE-A-2026-17943), requested by the Board of Administration of National Heritage, guarantees the Velázquez painting “Portrait of Philip IV in Chestnut and Silver,” ca. 1631-1632, for the exhibition “Guest Work” at the Gallery of the Royal Collections, from November 17, 2026, to February 14, 2027. Its value is estimated at 34,750,376.46 euros, expressed in British pounds and converted to euros according to the exchange rates set by the Bank of Spain on June 11, 2026.

Processing and coverage

The three orders are based on the favorable agreement of the Board for the Qualification, Valuation, and Export of Spanish Historical Heritage Assets, the reports of the State Attorney’s Office and the Sub-directorate General of the Budget Office, and the proposal of the Directorate General of Cultural Heritage and Fine Arts. Coverage begins with the collection of the works from their place of origin and extends until their return, with a deadline of March 12, 2027, in the case of the Velázquez.

• Amounts not covered by the guarantee must be insured by the requesting institution or the assignors.
• Any alteration of the application conditions requires the express consent of the Ministry of Culture.
• The guarantee may be extended if the exhibition is expanded, subject to a prior request and a new order.

The State guarantee is a key instrument enabling Spanish museums to exhibit high-value works from foreign collections without assuming unaffordable insurance premiums. With these three orders, Spanish cultural heritage is enriched by two major exhibitions at the Prado and a Velázquez masterpiece in the Royal Collections, strengthening Madrid’s cultural offering during the 2026-2027 season.

Source: Official State Gazette, no. 203, August 19, 2026, Sec. III, pp. 115697, 115703 and 115713 (official references: BOE-A-2026-17941, BOE-A-2026-17942 and BOE-A-2026-17943).