Bristol Museum & Art Gallery has succeeded in raising £100,000 in less than a week towards its bid for a recently rediscovered JMW Turner masterpiece.

More than 1,400 members of the public donated the target amount within five days after the museum launched an urgent fundraising appeal to acquire The Rising Squall, Hot Wells from St Vincent’s Rock, Bristol.

Painted when the artist was just 17, the 1792 work is the earliest-known oil painting ever exhibited by JMW Turner and is believed to be the only oil painting he made of Bristol. It depicts storm clouds enveloping Hot Wells House in Bristol, as seen from the east bank of the River Avon before the construction of Clifton suspension bridge.

Last shown in Tasmania in 1858, the painting had been lost for 150 years until Turner’s signature was discovered during cleaning after it was sold last year.  

The painting has since been examined by all leading Turner scholars, who unanimously endorsed the attribution. References to it can also be found in Turner’s obituaries and early literature on the artist.

The artwork is due to be auctioned at Sotheby’s on 2 July. Bristol Museum & Art Gallery is believed to be the only public institution planning to bid for the masterpiece.

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The fundraising appeal saw donations come in from across Bristol and beyond, ranging from £2 to £15,000. The Bristol Museums Development Trust, an independent charity that raises funds for the city’s public museums, said the campaign had attracted “huge support from individuals, families, first-time donors and long-time museum supporters alike”.  

Kate Newnham, the senior curator of visual arts at Bristol Museum & Art Gallery, said: “It’s overwhelming to have received such an incredible and positive response from the people of Bristol and beyond. It just goes to show the importance of access to art and culture to everyone.  

“We are determined to do everything we can to bring this artwork back to Bristol and show everyone who has donated or shared our campaign that their support has made a difference. If we are successful in our bid, we can’t wait to throw open our doors and welcome everyone in to come and enjoy The Rising Squall for the first time in more than 150 years.” 

Although the target has been reached, the Crowdfunder will remain open until 2359 on 1 July as the team says every extra pound donated will strengthen the museum’s bid.