In The UK
In 2006, the town council of Bury made a controversial decision to sell A Riverbank, by L. S. Lowry from the collection of the Bury Art Gallery and Museum for £1,408,000 at Christie's. This resulted in the museum's loss of accreditation by the Museums, Libraries and Archives Council, which condemned the decision. The decision also brought criticism from art collectors, such as Frank Cohen, who was quoted as saying "People won't want to give things away to museums if they think they might be sold in future. If I give something away, I make it a condition that it is never sold."
Read more about this topic: Effects Of The Late-2000s Financial Crisis On Museums