Thursday, June 10, 2010
University Plans To Loan Museum Art To Raise Funds -- posted by Florida Fine Art Blog
This article brings up some interesting questions. With most museums across the country strapped for cash, how safe are the paintings in their collections? Can the museums break with their responsibility to their donors and begin selling or loaning the works of art in their collections? If a museum loans a painting out to a private institution and charges the institution for the loan, who is responsible for the safety of the piece?
Paintings that are donated to museums can come with a lot of strings attached. Many contracts state that the donated painting may not be loaned out or sold for anything other that new acquisitions. Some donate whole collections to museums only with the assurances that the museum will permanently hang all the paintings at once in a separate room. With museums hurting for cash and a private market eager to snatch up some of the museums most precious holdings it will be interesting to see what arangments are made. GL
University Plans To Loan Museum Art To Raise Funds