Britain's Best Private Pictures

One of the after effects of the purchase of Titian’s Diana and Actaeon from the Duke of Sutherland has been a renewed sense of cultural threat and loss. The bite of the credit crisis can only have increased British fears that the nation’s artistic patrimony is at risk of being liquidated. Here’s the top five entries from a list of 25 works most at risk compiled by Martin Bailey and appearing in the Telegraph. With apologies for the late pick-up:

Erasmus by Hans Holbein, 1523. Owned by the Earl of Radnor, on loan to National Gallery since 1995. There has been concern that the painting may soon come onto the market.

Portrait of a Man by Titian, c.1515-1520. Owned by the Earl of Halifax. On loan to National Gallery, 1992-2005, when Lord Halifax announced decision to sell the work. National Gallery and National Gallery of Scotland offered around £55 million for it, but this was rejected. Picture was subsequently withdrawn from sale. Last week, it returned on loan to National Gallery.

Diana and Callisto by Titian, 1559. Owned by the Duke of Sutherland, on loan to National Gallery of Scotland. Partner to Diana and Actaeon. National Galleries have four years to raise £50 million to save the painting, which will otherwise be sold.

Portrait of Catrina Hooghsaet, 1657, by Rembrandt Van Rijn. Owned by the Penryhn Settled Estates trust, on view at Penryhn Castle, north Wales. Painting was offered for sale to Rijksmuseum in Amsterdam while on loan there in 2007, but Penryhn trustees rejected museum’s offer of £26.4 million. It is believed the trustees would still consider an offer of around £40 million.

Omai by Joshua Reynolds, c.1776. Owned by John Magnier and currently on loan until 2011 to National Gallery of Ireland on a temporary export permit. The long-term future of this painting is uncertain. The painting was acquired by the 5th Earl of Carlisle in 1796 and was at Castle Howard, Yorkshire, until its sale at Sothebys in 2001. Magnier applied for an export licence to take the picture to his home in Dublin, which was deferred. Magnier has rejected an offer of £12.5 million by a Tate donor to keep the painting in the UK. If he is unable to keep the painting for his private collection in Ireland, it is thought he may offer it for sale on the open market.