London’s National Gallery is hoping to acquire a sixteenth century portrait by the Italian Mannerist painter, Pontormo. The work’s current owner sold the piece to an overseas buyer last year for nearly $40 million. The museum faces a unique challenge as the owner paid inheritance tax on the painting before the buyer applied for an export license. The Gallery is hoping that the UK’s Treasury will refund the payment. Otherwise, it could be difficult for the institution to raise the funds needed to keep the work in the country.