Breaking news Feed
- Sleep with Rolex & Patek Philippe at Florence's Luxe L'O - Hotel L'Orologio
- German Billionaire Offers World's Fastest Long-Range Superyacht for $85 Million
- $2.7 Million Patek Philippe Watch Stars in Christie's Sale
- Charter Steven Spielberg's New Superyacht for $1.3 Million a Week: The World's Most Expensive
- The Classicist: VO Guns Debuts the Falcon, World's Most Expensive Rifle, for $820,000 [EXCLUSIVE]
- Win a Ride With Harrison Ford in His Private Plane & More in Bid to Save the Earth Auction - Part I
- Memo to Prince William: Before the Royal Wedding Have Kate Middleton Sign a Princely Pre-Nup
- Steve McQueen's Famed 1970 Porsche 911S at Auction
- Theatre Of Horticulture: The Orchid Show Opens at the New York Botanical Garden
- EXCLUSIVE: Abramovich Said to Be Owner of World's Most Expensive Painting
Featured stories Feed
- The Classicist: Southern Proper's Timeless Style
- Fairy Tale Castle on the French Riviera, Estate of the Day
- Shoot 'n Share Camcorder Projector: Simple Enough for a Child to Use
- Five Fabulous Things to Do On A Ski Trip Without the Skis in Park City, Utah
- The Classicist: Thoroughbreds, Bourbon and Private Planes from Flexjet
- World's Most Expensive Poker Set for $7.5 Million
- Herman Miller Sayl Ergonomic Work Chair Review
- Luxist Giveaway: Element Case Vapor Pro iPhone 4 Case
- The Fashion Statement: The Rise of Flatforms
- RSVIP: Dinner with an Astronaut and Fireworks in Costa Rica
Categories
- 10 Luxuries (13)
- Apparel (1516)
- Architecture & Design (83)
- Art (1054)
- Auctions (1452)
- Big Givers (129)
- Books (300)
- By Design (48)
- Celebrity Design (216)
- Celebrity Shopping (1475)
- Charity (592)
- Charity of the Day (163)
- Children (102)
- Cigars (363)
- Cosmetics and Fragrance (432)
- Crimes and Misdemeanors (116)
- Decor (2404)
- Dining (1562)
- Estates (3822)
- Events (737)
- Gadgets (1336)
- Green (369)
- Handbags (2263)
- Holiday Guides (120)
- Jewelry (1651)
- Lux Tips (31)
- Luxury Cars & Autos (2724)
- Luxury Shopping (91)
- Luxury Travel & Hotels (2962)
- Modern Gentleman (12)
- Men's Style (529)
- Pets (199)
- Real Estate Developments (536)
- Services (403)
- Shoes (474)
- Spas (411)
- Spirits (1155)
- Sports (658)
- Tell Us Everything (8)
- The Classicist (168)
- The Fashion Statement (104)
- Timepieces / Watches (2089)
- Video (65)
- Wealth (433)
- Wine (1460)
- Wings (717)
- Writing Instruments (183)
- Yachts & Sailing (1023)
Featured Galleries
Blogs We Love
- A Continuous Lean
- A Luxury Travel Blog
- Born Rich
- CIRCA Jewels Blog
- Creed Boutique Blog
- Departures
- Dr. Vino
- EgoTV
- FabSugar
- Home Decor
- Home Design
- Hotel Chatter
- How To Spend It
- If It's Hip, It's Here
- JamesList
- Just Luxe
- Lavish Property
- Luxuo
- New York Observer: Culture
- Notes On A Party
- Real Estalker
- Robb Report
- ShelterPop
- Splendora
- The Life of Luxury
- The Luxury Spot
- The Sartorialist
Also on AOL
- Autos
- Technology
- Lifestyle
- Gaming
- Finance
- Entertainment on AOL
- Lifestyle on AOL
- Sports on AOL
- Travel on AOL
- More on AOL
Reader Comments (Page 1 of 1)
6-26-2010 @ 8:26PM
DrL said...
It's amazing how many people think that if they will something to a museum, they are preserving it for the public forever. Virtually all museums sell items "to benefit their acquisition fund," sometimes right after the donation is received, and regardless of what they have promised the donor. Where the money actually goes is another matter, and can vary immensely. Recently, an Orange County. CA museum director hired an appraiser to declare the value of several of the museum's masterpieces at about 10% of their actual worth (an appraisal was required before a sale). He then sold them to private parties, names kept secret, at that 10% value. He and his friends are presumably enjoying their profits. The deal sparked a brief public outrage, which was quickly put down by the declaration that the deal was entirely legal, which it was, at least by what could be proven. There are several lessons and changes that could result from these episodes, but I offer a few:
1. Try to be sure that you have a signed and legally lasting contract that forbids the museum from selling or giving away the item and requires public access to the item. Don't be surprised if the museum snobs think that's too restrictive. Either agree to a compromise or take your item somewhere else.
2. Know what will happen to your item if the museum declares bankruptcy, is sold, etc.
3. Be sure that the museum keeps good records, takes inventory regularly and has bylaws requiring checks and triple checks to prevent scams such as the Orange Co. caper.
4. Art Museum thefts are common, and stolen artworks are rarely recovered. At least verify that the museum maintains great security, and is required to continue it.
5. Reconsider your relatives, who possibly feel attached to the item. Are they really inconsiderate greedy people who don't deserve it and will probably sell it for cash anyway? (Quite possibly!) Are they possibly decent people, no worse than most others, who would cherish the item or could really use the money? After all, you will not receive immortality by making a donation, even if organizations try to make you feel that you will, and it is your family. If you do donate, please make the effort to try to assure it goes where you expect it to go.
Reply
6-27-2010 @ 4:48AM
Kath said...
DRL - Your post is so very well stated! Bravo!!!