Tweed Regional Gallery recently acquired Ben Quilty's Archibald Prize-winning portrait of the renowned Australian artist Margaret Olley, marking a significant moment for the gallery.

Margaret Olley, who passed away in 2011, has a special connection to the gallery, with her ashes resting in the garden outside and the Margaret Olley Art Centre inside, showcasing the essence of her Duxford Street studio in Paddington.

The purchase of Quilty's painting for $600,000, which won the Archibald Prize shortly before Olley's passing, symbolizes a full-circle moment.

Olley, born in Lismore in 1923, always maintained ties to the New South Wales North Coast, according to her friend and executor of her will, Philip Bacon.

Philip Bacon mentioned that Olley adored the Tweed Regional Gallery and felt a sense of belonging in the region, often expressing her love for the lush greenery and the vibrant life it represented.

As part of the Margaret Olley Art Trust, Mr. Bacon played a significant role in securing the portrait, with the trust contributing $100,000 towards the purchase.

The painting, previously on loan to the Art Gallery of NSW, was later housed at Quilty's home in Bowral before being put up for a crowd-funding campaign by the Tweed gallery.

The portrait will be the highlight of the upcoming exhibition at the Margaret Olley Art Centre, showcasing a collection of works by the artist from June 15 to August 31.

Quilty will be present at the exhibition opening, which is already sold out, along with 11 still-life paintings by the artist, featuring gifts from Olley herself.