13 Sep $70 Million in Art at MoMA to Be Sold to Extend Museum’s Digital Reach
A foundation for CBS founder William Paley plans to auction off a trove of masterpieces long lent to New York’s Museum of Modern Art for at least $70 million this fall to expand the museum’s digital footprint.
The paintings and sculptures—by artists including Picasso, Renoir and Rodin—have been in MoMA’s care since Mr. Paley died in 1990. On Tuesday, his namesake foundation confirmed it had enlisted Sotheby’s to auction off 29 of his 81 pieces at MoMA.
Published by Kelly Crow in WSJ.