In recent art world news, and as a follow up to last week’s post on the Art Law blog, with legal hurdles now overcome, over a dozen artworks from the Berkshire Museum’s art collection are set to be offered for sale at auction next month at Sotheby’s New York in connection with the institution’s efforts to raise a total of $55 million. The lots include works by Norman Rockwell (high estimate of $10 million), Frederic Edwin Church ($7 million), Alexander Calder ($3 million), and Francis Picabia ($1.2 million).
Sotheby’s estimates that the lots could generate between $20.2 million and $28.9 million in sales after being sold at auction in mid-May. The sum from those works will be combined with an unknown sum that the museum received from the earlier announced private sale of its treasured work by Norman Rockwell, “Shuffleton’s Barbershop” (1950), to an institution (recently reported as the Lucas Museum of Narrative Art) that will keep the work on public view.
The Pittsfield, Massachusetts based museum hopes to reach its goal of $55 million through the sale of the lots at auction next month and the private sale of Shuffleton’s Barbershop. Whether the museum will be able to reach its goal depends on how much the museum received for the Rockwell masterpiece, Shuffleton’s Barbershop, which depicts a group of men playing music at the rear of a storefront late in the evening. Sotheby’s, the broker of the private deal, has said that the sales figure is confidential.
When Shuffleton’s Barbershop was set to be offered for sale at auction last November at Sotheby’s, the work was estimated at $20 million to $30 million. The auction was halted due to legal challenges that led the Massachusetts Appeals Court to hold off the sell-off of works while the state’s attorney general’s office conducted an investigation of the museum’s plans.
With the legal hurdles now cleared, the first sales of the lots from the museum’s collection are set to take place at Sotheby’s Impressionist and Modern auction the evening of May 14, when works by Francis Picabia and Henry Moore will be offered at auction. The museum’s highest estimated lot, Norman Rockwell’s Blacksmith’s Boy—Heel and Toe (1940), will round out the auction sales at Sotheby’s American Art sale on May 23.
It will be interesting to see if the Berkshire Museum is able to achieve its goal of $55 million after next month’s auction sales. If the museum hits the figure, additional works from its collection will not need to be sold.