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Georgia O Keeffe s
Green Oak Leaves (ca. 1923) was the star lot of the Newark Museum s sale. Courtesy of Sotheby s.
The Newark Museum of Art today sold off a slate of works at Sotheby’s, despite considerable objections from experts and scholars, to bring in $5.9 million into the institution.
Of the 11 works on offer at the auction of American art in New York, one was unsold, two sold for under estimate, and the remaining eight exceeded their presale expectations.
The highest price paid was $1.2 million for Georgia O’Keeffe’s
Green Oak Leaves (1923), which had an irrevocable bid and was estimated at $500,000 to $700,000.
A handful of U.S. museums sent collection artworks to the auction block at a Sotheby's American art sale that totalled $15 million on Wednesday. Women artists in the sale including Mary Cassatt, Georgia O'Keeffe, Grandma Moses and Gertude Abercrombie brought big prices for some small-sized works overall. Although some of the sales could be earmarked to fund new acquisitions, the sell-off from public institutions falls within a two-year period in which museum association guidelines .