jackson Pollock

Will Iowa Send a $140 Million Jackson Pollock To The Auction Block?

Filed under: Art

Will Iowa's 2008 floods end up washing away on of the state's prized works of art? The Daily Iowan reports that legislators introduced a bill in the Iowa House Wednesday to compel the University of Iowa to sell its famous Jackson Pollock painting, Mural, and use the revenue for scholarship assistance. The painting hung in the UI Museum of Art but has been in Davenport and Chicago since the 2008 floods. Mural is considered to be one of the most important modern Ameircan paintings. In the 1940s the UI School of Art and Art History was one of the most innovative studio arts programs. Pollock patron and art dealer Peggy Guggenheim gave the Mural to the University in 1951. It is valued at $140 million.

Tags: art loans, deaccessioned art, jackson pollock, university of iowa

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Pollock Sells for $140M

by Nicole Weston (RSS feed) —

Filed under: Art

Although neither the seller nor the buyer, both private and tight-lipped, want to comment on the sale, the $140 million price tag that was attached to a Jackson Pollock paining last week makes it the most expensive piece of artwork in history. The painting, which was done on fiberboard, is titled "No. 5, 1948" and measures 4-feet 8-inches in height. David Geffen reportedly it sold to the "obsessively private" Mexican financier David Martinez through Sotheby's. The NY Times speculates that, as Geffen just sold off two other very expensive paintings in the last few weeks, he may be trying to raise money for a bid to purchase the LA Times.