Barbara Kruger’s “Untitled (Provenance)."Credit Barbara Kruger
LOS ANGELES — Many of the artists who voiced strong support — and also criticism — of the Museum of Contemporary Art here during its struggles of the last decade are now lending a hand financially: they have agreed to donate their own artworks for an auction to benefit the museum’s endowment. Only instead of taking place between courses at some gala dinner, these sales will take place at Sotheby’s New York, as part of the auction house’s flagship contemporary art sale on the evening of May 12 and its day sale on May 13.
While not yet finalized, at present the list of donations includes 35 artworks Sotheby’s that expects to bring around $10 million, before fees. The museum’s endowment currently stands at $100 million, according to Philippe Vergne, the museum’s director.
“What we raise through the auction for the endowment will be earmarked for exhibitions and education,” Mr. Vergne said. He explained that this focus was chosen by the five artists who serve on the museum’s board of trustees: Catherine Opie, Barbara Kruger, Mark Grotjahn, Mark Bradford and John Baldessari.
They each donated one work for the occasion, with a colorful so-called “face” painting by Mr. Grotjahn from 2011 estimated to bring $2 to $3 million. Other participating artists include Jeff Koons, Sam Durant, Liz Larner, Shepard Fairey, Elliott Hundley and Ed Ruscha, a former board member.
Mr. Fairey, Mr. Hundley and Ms. Kruger are making work specifically for the sale, and Ms. Kruger’s piece has a pointed art-market theme, combining an image of a man’s hands holding a wide, workmanlike paintbrush with the words “Overrated,” “Underrated,” “Speculated” and “Donated.”
Sotheby’s tried a similar arrangement in 2013 to raise money for the Whitney Museum of American Art’s new building by Renzo Piano. Those donations, which came from collectors and dealers as well as artists, brought a total of $19.1 million.