art collection Archives - Marketplace

COVID-19

Brooklyn Museum is first in U.S. to sell art to help pay its costs

by Erika Beras

Sep 18, 2020

Some cultural institutions are facing severe budget shorfalls, but most have a surplus of art that can be easily converted to cash.

People roam around the entrance to the Metropolitan Museum of Art in New York City on Aug. 29, the day it reopened to the public after shutting in mid-March. The museum is preparing for a $100 million loss this year.

Michael Loccisano/Getty Images

LISTEN

EMBED

SUBSCRIBE

Need some Econ 101?

Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.