Delaware Art Museum Sells Works by Homer, Wyeth
- June 29, 2015 23:11
The Board of Trustees of the Delaware Art Museum announced Monday the private sales of Arthur Cleveland by Andrew Wyeth and Milking Time (1875) by Winslow Homer. The sales are said to be the last of the museum's deaccessions to satisfy a $19.8 million bond debt and replenish its endowment.
In 2014 the museum sold Isabella and the Pot of Basil by William Holman Hunt for $4.25 million at auction and Black Crescent by Alexander Calder for an undisclosed amount privately. No works of art acquired through gift or bequest were sold, according to a museum statement. National museum associations quickly sanctioned the museum for selling collection works, dropping its accreditation and ability to receive loans.
“Today, we close one of the most difficult chapters in the story of the Delaware Art Museum,” said Delaware Art Museum CEO Mike Miller. “We reached our most important goal—keeping the Museum open and thriving. We are very grateful for those who have understood the arduous and complex decisions that we encountered during this long and challenging phase. There has been overwhelming and unyielding support for protecting and preserving this beautiful Museum for our community.”
The debt came from a 2005 facilities expansion.
Read more at Delaware Art Museum