A tragic day for museums

« So, Christie’s Hong Kong, 10.30am and we’re off. 10.30am Hong Kong time is 2.30am, where I live, so forgive me if I missed the auction itself; early information from Christie’s website suggests the sale has raised less than half the £13m that avaricious councillors were hoping for.

(The numbers: total price realised is £8.2m, which includes buyers’ premiums of around 20% due to Christies, which leaves about £6.5m for Croydon – minus any seller’s premium, tax and other sale costs.)

Is raising half what was hoped for a good or bad thing? The first reaction might be mild glee that Croydon bureaucrats and politicians will be seen as incompetent. But of course it’s not good news. If you’re going to asset strip, however unethically, you’d better get the best price for the public.  » by #MauriceDavies via @Museums Association