If after all the ink spilled on the topic of #deaccessioning, you’re still unclear what the fuss is about, here’s a short summary of the concerns of most art museum directors, excerpted from a presentation I recently made to the Federal Bar Association. We go back to the landmark decision in 1993 by the Financial Accounting Standards Board to restrict the proceeds of art sales to buying new art, the softening of its stance in 2019, and the temporary lifting of restrictions against the use of deaccessioning proceeds by the Association of Art Museum Directors. We recap the swirling external forces bearing down on art museums today regarding the monetization of collections, and I close with the hope that art museums won’t discard obligations to preserving our shared cultural heritage and will instead turn to philanthropy to address pressing needs from DEI to operating shortfalls.
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