Regents study possible sale of mural
7:40 AM
Posted: Friday, August 08, 2008
CEDAR FALLS, Iowa (AP) -- The Iowa Board of Regents has agreed to study a possible sale of a famous Jackson Pollock painting at the University of Iowa to help pay for flood recovery on campus.
Regent Michael Gartner raised the idea during a regents meeting on Thursday on Cedar Falls.
Gartner says he's not saying the painting should be sold, only that the idea should be studied considering the financial hit the university has taken.
June's record flooding swamped 20 buildings and caused an estimated $232 million in damage. The university's Museum of Art was among the flooded buildings. Most of the collection was removed without damage, including Pollack's 8-by-20-foot "Mural."
Gartner requested a study to determine the value of the painting, which he said was appraised a few years ago at $150 million.
Regent Michael Gartner raised the idea during a regents meeting on Thursday on Cedar Falls.
Gartner says he's not saying the painting should be sold, only that the idea should be studied considering the financial hit the university has taken.
June's record flooding swamped 20 buildings and caused an estimated $232 million in damage. The university's Museum of Art was among the flooded buildings. Most of the collection was removed without damage, including Pollack's 8-by-20-foot "Mural."
Gartner requested a study to determine the value of the painting, which he said was appraised a few years ago at $150 million.
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