Metropolitan Museum of Art - Acquisitions and Deaccessioning

Acquisitions and Deaccessioning

The Metropolitan Museum of Art is required to list in its annual report the total cash proceeds from art sales each year and to itemize any deaccessioned objects valued at more than $50,000 each. It must also sell those pieces at auction and provide advance public notice of a work’s being sold if it has been on view in the last ten years. These rules were imposed by the New York State Attorney General in 1972.

During the 1970s, under the directorship of Thomas Hoving, the Met revised its deaccessioning policy. Under the new policy, the Met set its sights on acquiring "world-class" pieces, regularly funding the purchases by selling mid- to high-value items from its collection. Though the Met had always sold duplicate or minor items from its collection to fund the acquisition of new pieces, the Met's new policy was significantly more aggressive and wide-ranging than before, and allowed the deaccessioning of items with higher values which would normally have precluded their sale. The new policy provoked a great deal of criticism (in particular, from the New York Times) but had its intended effect.

Many of the items then purchased with funds generated by the more liberal deaccessioning policy are now considered the "stars" of the Met's collection, including Velázquez's Juan de Pareja and the Euphronios krater depicting the death of Sarpedon (which has since been repatriated to the Republic of Italy). In the years since the Met began its new deaccessioning policy, other museums have begun to emulate it with aggressive deaccessioning programs of their own. The Met has continued the policy in recent years, selling such valuable pieces as Edward Steichen's 1904 photograph The Pond-Moonlight (of which another copy was already in the Met's collection) for a record price of $2.9 million.