Fisk Moves Closer to Endowment-Salvaging Chance to Sell Georgia O’Keefe Artwork
The Tennessee Supreme Court declined an opportunity to hear a case between the estate of painter Georgia O’Keefe and Fisk University over ownership rights to a valuable collection of art held by the university. The case now moves to a lower court, and Fisk University believes the move guides them one step closer to retaining the collection, and possibly selling a half-interest in the works currently valued at more than $30 million.
Fisk hopes to sell off as much as half of the 101-piece Alfred Stieglitz Collection, which the artist had donated to the school in 1949.
Arkansas’ Crystal Bridges Museum of American Art, owned by Wal-Mart heiress Alice Walton, has offered the university $30 million for a half-share in the collection.
The money would allow the school to rebuild financially after raiding its endowment and nearly shutting its doors.
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[...] Fisk University, an HBCU that has become an model for financial hardship and resulting academic casualties, appeared to be on the verge of selling a valuable art collection bestowed upon it by famous artist Georgia O’Keefe. [...]