Fisk Reports to Attorney General on Dealers’ High Offers for O’Keeffe

In a letter sent Monday to the Tennessee attorney general, Fisk University revealed that art dealers have offered to pay $20-25 million for Georgia O’Keeffe‘s “Radiator Building.” The financially strapped historically black university wants to sell that iconic painting (as well as a Marsden Hartley) to raise money for construction and endowment, but the Georgia O’Keeffe Museum in Santa Fe, which represents the artist’s estate, sued to block the sale. The paintings are from the Stieglitz Collection, donated by O’Keeffe to the university in 1949. At that time, the Fisk’s president had agreed that the collection would remain intact, the NY Times reported in February.
Fisk had struck a deal in February with the attorney general to seek donations that would allow it to keep one or both of the paintings. This unsuccessful attempt was subject to a 30-day deadline, now expired.
Ralph Loos of the Tennessean reports:
Some [of the proposals from dealers] include offers that would allow Fisk to occasionally exhibit the art. None of these proposals would allow Fisk to keep the art.
The O’Keeffe Museum, driving a hard bargain, has agreed to drop its suit if it is allowed to snap up “Radiator Building” for a mere $7 million. The deal would require court approval.
According to a report by Reginald Stuart in Diverse: Issues In Higher Education (which focuses on minorities), the university’s letter to the attorney general “gave no hint as to whether Fisk will attempt to back out of the deal with the museum.”
In this context, it is worth reviewing the guidelines of the Association of Art Museum Directors, regarding deaccessions by university and college museums:
Deaccessioning and disposal from the collection must result from clear museum policies that are in keeping with AAMD’s Professional Practices. Deaccessioning and disposal from the art museum’s collection must never be for the purpose of providing financial support or benefit for ther goals of the university or college or its foundation.