U.S. Uni verscherbelt their art treasures.

Everything must go: In the emergency, the prestigious Brandeis University Art Museum her close, and works by artists like Warhol, Johns and Lichtenstein silver. 265 million euros, the collection is worth - but what the market is still in crisis come from?

 

Now it is to like. The impact of the financial and economic crisis, forcing the prestigious Brandeis University in the U.S. state of Massachusetts to painful cuts: In order to save the teaching, it would be the Museum of Modern Art and close the 8,000 exhibits from the collection of sale, announced at the Privatuni.

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"Mao" by Andy Warhol: the end of a university museum, selling the silverware

The 48 years old Rose Art Museum in Waltham has been one of the most important collections of postwar art in the northeastern United States. These include works by Jasper Johns, Robert Rauschenberg, Roy Lichtenstein and Andy Warhol.

As the university announced the museum will be the end of the summer close. The collection should be of a well-known auction house sold and the proceeds in the real Uni-operation "reinvested" to be. The "extraordinary economic times" had forced the decision, said Brandeis President Jehuda Reinharz.

This is a summer sale of a special kind How many other U.S. universities, funded the small Brandeis University in its operating business from the proceeds of their foundation's assets. These assets are as a result of the nationwide financial crisis dramatically melted off. Specific numbers have not called Brandeis.

To what magnitude it can go, show examples of top universities in the USA: The elite Harvard University in nearby Cambridge quantified their
"unprecedented losses" at least eight billion dollars, one fifth of the foundation's assets. And the Yale University went about a quarter of their assets flutes - five billion dollars dissolved
on the global Monopoly.

Small museum with exquisite images Treasure

Although attracted the Rose Art Museum just around the 14,000 art enthusiasts each year, but the images of the museum would be awarded around the world and hundreds of thousands of art lovers considered, said Michael Rush, director of the museum established in 1961, the newspaper "New York Times." "I was shocked and still am. I feel horrible that this is a sad time for the arts," said Rush. He and his staff were not on the conference have been loaded on which the decision was. Rush estimates the value of the collection converted to 265 million euros.

That the university, with corresponding expected revenues can doubt the art historian Robert Storr. He said that there is in the current market situation, "no worse time to sell art." The plan of the museum is not only unprincipled, but also a sign of bad management.

According to "New York Times, the State Attorney General of Massachusetts, Martha Coakley, possibly even the possibility of selling out to prevent. The last will of the donor to the Museum must be verified, then could the authority of the State Attorney the sale of art treasures might avert. "We expect a lengthy process," said a spokeswoman for the prosecutor's office.

The name of the university, founded in 1948, goes back to Louis Brandeis, a former Judge of the Supreme Court, resigned. The private university has about 5000 students. The graduates include the resignation on Monday, Icelandic Prime Minister Geir Haarde, Shen Tong, a student leader of the Tiananmen Square protests in Beijing in 1989, and the inventor of the TV series "Friends," David Crane and Marta Kauffman.