Controversial art sales by cash-strapped museum raise $2M for capital expenses

Liquidating assets by auctioning off a painting or two seems routine unless the seller is an art museum. Last summer, the Berkshire Museum made the decision to auction off pieces of its collection in order to raise millions for to pay for capital upgrades, strengthen its collection and essentially keeping the lights on, according to the New York Times. The museum’s decision drew widespread opposition as many of the items to be sold were long-time […]

source https://therealdeal.com/2018/05/19/controversial-art-sales-by-cash-strapped-museum-raise-2m-for-capital-expenses/