The foundation announced in a statement that most of the proceeds will go towards expanding the museum’s digital presence, from the possible launch of its own streaming channel to the possible purchase of more art, digital or otherwise.
Among the works that will be part of the auction lot is the cubist “Guitar on a Table,” which Pablo Picasso painted in 1919. The painting, which was hanging above the fireplace in Paley’s Manhattan bedroom before arriving at the museum, is being It will offer for at least $20 million on November 14 in New York.
Another standout piece in this collection is Francis Bacon’s 1963 small-format triptych, “Three Studies for the Portrait of Henrietta Moraes,” which will be offered for at least $35 million on October 14 in London, Sotheby’s said. . These two artists provide the most important pieces of the operation, which will take place at Sotheby’s headquarters in London.
Most of the money will be used to further digitize the museum, according to The Wall Street Journal. The newspaper assured that there are plans to launch its own streaming channel and to improve the digital art collection, possibly NFT. In the museum’s plans for the money obtained from the sale is also to join the uncertain revolution of the NFT.
Paley’s history with the museum is long: he joined the board in 1937 and was a great collector of contemporary art, even though this hobby was not so highly regarded among the wealthier. He went on to be president and chairman emeritus of MoMA’s governing body, so when he died his legacy was not exactly a surprise, nor was it that he donated it unconditionally. The museum was authorized to keep the works but also, if necessary, to sell them. The Paley Foundation has participated in the operation, also in the selection of the works that will go on sale, where in addition to Picasso and Bacon there are paintings by Renoir, a Fauvist-era Derain and a canvas by Henri Rousseau, as well as sculptures by Rodin and Maillol.
Without a doubt, the pandemic altered the management and exhibition system of museums and MoMA did not escape this scenario: after the reopening of its doors, the institution opted, like the rest of the American institutions, for a slow and cautious return, and audience levels have not yet returned to pre-pandemic levels. According to space data, visits have fallen by 40% in the New York institution.
The Covid-19 put the centers before the mirror of their digitization. They all launched into online exhibitions, Zoom talks, podcasts, and curated streaming tours. This also allowed them to realize that not everything goes in the virtual world, which is the same as saying that everything costs. Hence, the MoMA is ready to exchange jewels of the old tangible art for the urgency of updating its digital image.
The move underscores the extraordinary efforts museums and their major donors feel they must make to expand museums’ influence online, as cultural institutions struggle to recover from the pandemic-driven drop in attendance.
Last year, MoMA’s online content on its own website and YouTube channel, as well as through its following on social networks like Instagram and Weibo, attracted 35 million people, up from 30 million. that existed before the pandemic.
Source: Ambito
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