Graham Beal
Is the Detroit Institute of Art putting some valuable art, including an 1886 Van Gogh still life, up for sale after such a big deal was made about not selling one single piece during the bankruptcy?
Detroit News columnist Laura Berman writes that the DIA has looked into that possibility:
The art world is buzzing, albeit quietly, about a prospective, voluntary sale of some Detroit Institute of Arts works — including an 1886 Van Gogh still life.
In the hubbub of Detroit’s Chapter 9 bankruptcy, the prospect of selling off the DIA’s collection was a key controversy. Selling even one painting to satisfy creditors or fund operations, DIA officials said then, could destroy the DIA’s standing in the museum world.
The DIA triumphed when the so-called “grand bargain” ensured the museum would remain intact last year. Instead of selling any art, the museum pledged $100 million to help the city pay down debt.
She goes on to write:
The proposed sale of DIA works, reported in art publications, is intriguing because it marks the first time the museum has discussed selling art or art objects since the bankruptcy. “Trading up resumes,” announced a headline in The Art Newspaper, a British online publication, in March. It reported that DIA director Graham Beal said, “We couldn’t sell any works (until now) because it would have caused such confusion.’ ”
Berman writes that in the art world, it's considered very acceptable to sell art to obtain other art.
Beal tells Berman that he's decided to hold off on the sales, leaving it to his successor. He is retiring June 30.
Berman asks Beal why the plan to sell the Van Gogh being was reported? He responded:
“I had been talking to Sotheby’s and I think word leaked out. When the bankruptcy was over, I talked to Sotheby’s and decided that now isn’t the time to do it.”
But Berman writes Beal did say that if someone made him an offer for the Van Gogh, well, he would sell if if was above the auction estimated sale value.
Very interesting.