"The Cleveland Museum of art did better than expected in the largest sale of works from its collection in a half century -- roughly 45 percent better," says Plain Dealer writer Steven Litt.
The museum auctioned off several items from its collection deemed nonessential in order to improve its Old Master paintings collection. The auction, held last week at Sotheby's New York, was titled "Important Old Master Paintings."
According to Litt, the museum offered 32 paintings at prices estimated to bring between $706,000 and $1,022,000. The museum earned approximately $450,000 more than the highest estimate.
Among the items sold were "Dune Landscape with Figures" by the 17th century Dutch painter Philips Wouwerman. Estimated at $100,000 to $150,000, it sold for $446,500. A pair of 18th-century paintings depicting an ancient Roman battle were estimated to sell for $200,000 to $300,000. The sale price with premium was $482,500.
"We were pleased to be swept along by a generally enthusiastic group of buyers and stronger than expected sales across many lots," C. Griffith Mann, the museum's chief curator, told Litt. "Things went within or beyond the estimates."
Read the rest of the story here.