Museums to sell art collections
Andy Warhols and other high profile artworks are mooted to feature in forthcoming sales
As autumn approaches, US museums are preparing to sell items from the exhibits - giving collectors once-in-a lifetime opportunities to own rare works.
The Palm Springs Art Museum may be selling notable pieces by Robert Irwin, Kenneth Noland, and Alexander Liberman to the market, according to ArtInfo.
Elsewhere, the Walters Art Museum in Baltimore is offering an Andy Warhol drawing from 1957, valued by Sotheby's at $80,000-120,000.
Funds generated from sales should only be used to purchase new work for a collection, according to practice guidelines by The Association of Art Museum Directors.
Last year, the National Academy Museum was censured for using income from the sale of works by Frederic Edwin Church and Sanford Robinson Gifford to cover operating costs.
But The National Gallery in Washington DC, is one museum that will not be selling any works this season. Its charter expressly forbids it from ever removing a work from its collection.