Brazil Has One Jackson Pollock - And Its Museum Is Selling It To Keep Itself Afloat

"The Museum of Modern Art (MAM) in Rio de Janeiro announced on Sunday that it is selling the only Jackson Pollock painting currently on public view in Brazil. The museum expects the work, Nº 16 (1950), to sell for around $25 million, which would help the museum sustain itself for at least 30 years. This will be the first time a museum in Brazil has deaccessioned an artwork to pay off debt. MAM currently has a deficit of 1.5 million reais (roughly $454,170), and because it's a private institution, it does not receive any governmental assistance."

Article source here:Arts Journal