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"Cowboy Singing" depicts a man playing a banjo while wearing fringed leather clothing (Eakins took the outfit back to Philadelphia with him after his trip). The painting and the sketches were sold by the Philadelphia Museum of Art, which is the world's chief repository of the artist's work. The sales conclude a fundraising campaign by the museum and the Pennsylvania Academy to raise $68 million to buy one of Eakins's great masterpieces, "The Gross Clinic," from Thomas Jefferson University, which had owned it since 1897. If they hadn't met the goal, the National Gallery and the Crystal Bridges Museum of American Art, founded by Wal-Mart heiress Alice Walton, were set to snap it up.
To get "Cowboy Singing," the DAM had to do some fancy finagling; part of the deal has the institution turning over half its ownership of "Long Jakes," by Charles Deas, to the Anschutz Collection. To my mind, this is strange, but it's indicative of how the DAM has been priced out of the market when it comes to adding to its Western collection. It also means that, like it or not, this kind of creative financing is going to become more common.