In Substantial Shift, Museum Industry Group Pushes Directors to Break the Rules to Survive
As art museum directors across the United States confront balance sheets devastated by the coronavirus pandemic, the field’s leading professional organization has adopted temporary measures aimed at giving them greater flexibility in how they manage their finances.
This is how bad things are for museums: They now have a green light to sell off their art
However, in an unprecedented move, and as a direct result of the coronavirus pandemic, the AAMD has recently relaxed its guidelines. It’s too soon to gauge the effect, but it is already big news in the art world. Once unthinkable, the notion of selling off a Claude Monet or two to plug a budgetary hole — or to fend off a total financial meltdown — is suddenly something to contemplate.