Museums get green light to sell art to survive coronavirus crisis

For generations, a code of conduct has governed the nation's art museums. Among the most important rules is the guidance to not sell collection pieces to pay the museum's bills. However, since the coronavirus pandemic struck, a lack of visitors has meant many museums are grappling with a lack of revenue. Christina Ruffini reports on the new interpretation of the old rule, designed to help these institutions survive the crisis.

[herzhaven]

To add to this is the current trend for highly prized pieces to be privately placed by the auction houses with a small consortium of galleries to block chain the sale. What could easily result is the quiet movement of pieces directly into private hands without any due diligence or even public sale or notice. What I suggest is buy-lease back arrangements so only the name plate changes on the work and the pieces remain in place at institutions but as a long term or permanent loan.

[jocelynherrera]

Very sad. We can bailout these big companies and airlines but forget about art and history ... so upsetting. Rich get richer while everyone else just gets poorer. Poorer in history and art and education.

[MegaMilesb]

This reminds me of gestapos/Nazis stealing art before the war.

[jullietetrinh]

Hi
Sacrifice one thing get another thing upward