While the Metropolitan Museum of Art is treating its collection like a bank, UCLA's Hammer Museum shows a smarter approach to deaccessioning art.
. If it were to temporarily hit the AG’s cap on its newfound wealth, that daunting crisis shortfall would largely evaporate.
Monetizing, on the other hand, is selling collection art to raise money to pay operating bills or capital expenses — just like any commercial gallery or other for-profit business might do. For a tax-exempt charitable institution like an art museum, it’s a worst practice. in Baltimore, Brooklyn, Syracuse, San Diego, Palm Springs and elsewhere decided not to let a good crisis go to waste. They cashed in art.The museum has reported an average income from deaccessioning art in recent years at about $13 million annually. Salaries for direct collection care run about $15 million, according to Director. Sales income could pretty much cover that operating expense — if only monetizing wasn’t banned.
“Profil” is a so-called Picasso “bone painting,” a rare abstraction that’s part Cubist and part Surrealist. The animated, interlocking comma shapes of the head both smile and frown at once, the figure’s sensuous curves shrouded in somber hues of brown and mottled white against an elegant if dour plane of gray.
UCLA has gotten the blessing of the Picasso donor’s heirs, according to Hammer Director Ann Philbin and Grunwald Director Cynthia Burlingham. The painting was a 1959 gift from prominent collector Stanley Newbold Barbee, shortly before he decamped to Hawaii from L.A. In an ideal world, selling museum art would hardly happen at all. Once an object left the private marketplace and entered a public collection, it would stay there.
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