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Gwendoline Davies (1882-1951) and her sister Margaret (1884-1963) were raised in rural Wales in a family with a considerable fortune but no tradition of art collecting. They were educated at home by a governess, Jane Blaker, whose brother Hugh was a painter and the curator of the Holburne Museum of Art in Bath, and with their governess, they traveled widely, particularly in France and Italy, but also as far as the Middle East.
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In 1907 the Davies sisters were considered the wealthiest unmarried women in Britain. The following year they bought their first works of art: a pair of oils by Joseph Mallord William Turner and two paintings by Jean Baptiste Camille Corot. In 1912 they made their first purchases of impressionist works, spending more than [pounds sterling]19,000 on objects that included an early oil sketch by Edouard Manet, a number of views of Venice by Claude Monet, and a full-sized ...