Sidney Nolan's record-breaking Ned Kelly painting has found a home at the Art Gallery of New South Wales, bringing to an end speculation about the work's fate.
The painting, First Class Marksman, sold at a Menzies Fine Art auction last Thursday for a record $5.4 million dollars.
On Wednesday the gallery revealed it was bought with money from the estate of the late artist James Gleeson and his late partner Frank O'Keefe.
Mr Gleeson and his partner established a foundation in 2006 with the Art Gallery of New South Wales as its sole beneficiary.
It was initially thought the painting would find a home at the National Gallery in Canberra, which holds 26 of the 27 works from Nolan's Ned Kelly series.
Mr O'Keefe died in 2007 and Mr Gleeson passed away in 2008, aged 92.
