The MNB led by Matolcsy may have purchased not just one original Titian for 4.5 billion forints

The Hungarian National Bank, led by György Matolcsy, purchased a painting attributed to Titian for 4.5 billion HUF in 2015, raising questions about its price, authorship, and provenance. The bank initiated the Értéktár program in 2014 to repatriate Hungarian artworks, allocating 100 million euros for this purpose. Critics have questioned the authenticity of the painting, suggesting it may only be from Titian's workshop. Art historians have expressed doubts about its attribution, with some noting discrepancies in quality compared to other known works. The painting's history includes previous ownership by a collector who attempted to sell it to the Museum of Fine Arts. Concerns about overpricing arise, as the painting's protected status limits its marketability, prompting inquiries into the valuation process used by the bank.