Albright College in Pennsylvania has announced plans to sell more than 500 artworks in its collection to reduce its debt, despite protests.
Located in the town of Reading, Albright College is a liberal arts institution. Last week, the college announced that it has put 524 lots up for sale at an auction house in Downingtown, Pennsylvania. Titled “Fine Art from an East Coast Education Institution”, the collection features works from names like Jasper Johns and Bridget Riley. The sale, scheduled for July 16, would feature books and posters as well.
The decision was made to mitigate some of the mounting debt accumulated by the college. James Gaddy, vice-president of Albright College, admitted that the college has taken on a deficit of $20 million in the last two years alone. The current 500+ auction accounts for a significant portion of the 2300+ art collection of the college. The college administration said that selling works from the collection to raise funds has been a common practice in colleges for years. Indeed, Albright will only be the latest to join the ranks of Fisk University, Valparaiso University, and many others.
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However, many have objected to this decision, particularly those who donated the artworks to the college. The daughters of Doris C. Freeman, who donated works from a major chunk of the college’s collection, had sent a stern letter dissuading the administration from the move. It is worth noting that the combined value of the auctioned works is estimated not to exceed $200,000, merely 1 percent of the college’s deficit.
