Brandeis University announced last week that it would close its Rose Art Museum and sell its entire collection in response to the school's deepening financial problems. The liquidation of the collection, which is worth about $350 million, has caused a great deal of controversy and sent shockwaves throughout the art world and the Brandeis community.
University administrators said last week that the institution's decision to sell the collection and convert the museum into mixed study-research space was made due to anticipated imminent budget shortfalls. Brandeis' endowment fell by roughly 25 percent-- from $712 million to $549 million -- during the second half of 2008, officials said.
The surprising announcement came last Monday, after voting members of the university's board of trustees unanimously supported the move.
"It's about looking at the overall picture in relation directly to the economic crisis that the country and the world is grappling with right now and trying to set priorities for the future based on the most important priorities for this university and colleges and universities around the country," Brandeis spokesperson Dennis Nealon told the Daily.
The Rose Museum, located on Brandeis' campus in Waltham, is home to one of the northeast's most noted collections of contemporary art. The collection includes works by Pablo Picasso, Andy Warhol and Roy Lichtenstein.
The announcement it evoked an outcry from many in the Brandeis community.
Michael Rush, the museum's director, expressed "shock and horror at the university's decision to close the Rose Art Museum," in a statement released Friday.
"As a member of the Brandeis community I feel shame and deep regret over the shortsightedness of this decision," Rush said.
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