The Washington Post reports that the Burnett Foundation which had loaned a complete set of Matisse’s Backs to the Kimbell Museum has decided to sell the work privately through Sotheby’s because the value had increased so much:
Neils Agather, executive director of the foundation, said the value of the sculptures now far exceeds anything that could justify owning them. He said the main mission of the foundation, which focuses on supporting health, education, human services and arts initiatives, mostly in the Fort Worth area, is to support community activities, not own art.
A “Back IV” sold at auction at Christie’s in November for more than $48 million.
“They’ve just gotten to a value now that it doesn’t fit the mission anymore,” Agather said Tuesday.
Texas foundation to sell Matisse set ‘The Backs’ (Washington Post)
