UPDATE: The Jackson Pollock painting was sold on Tuesday night for $12 million.
(WSYR-TV) — A painting by Jackson Pollock from the Everson Museum’s collection is set to be auctioned off today in New York City. The Museum Board of Trustees unanimously decided to sell the piece last month.
The painting, titled “Red Composition”, was donated to the Everson in 1991.
The estimate from Christie’s Auction House is $12 to $18 million. The museum says proceeds from its sale will be used to establish a fund for acquiring works created by artists of color, women, and other under-represented artists.