Delaware Museum Faces Sanctions From Directors’ Group – The Association of Art Museum Directors have pulled the Delaware Art Museum’s accreditation for selling works of art to pay off its debt. This week they sold a William Holman Hunt (which made far less than expected) and word is, there are other works that may be sold (Homer & Miro).
The museum is looking to raise $30M to not only pay off its $19.8M bond debt, but to replenish its endowment. If they do offer the Homer and Miro works and they do not bring the prices expected, how many other works of art will they sell? I said this before: personally I have no problem with a museum selling off sub-par works or those pieces that have little or no relevance to their collection; but selling important paintings (or any other object) seems rather foolish.
William Holman Hunt