The Met Considers Selling Its Art To Stave Off Financial Shortfall

The pandemic is causing The Metropolitan Museum of Art in New York to consider selling its artwork to cover operational costs as it falls short of $150 million in revenue.

The country's flagship art museum has still not made a final decision on selling its work.

Museum Director Max Hollein says the Met isn't quite facing an "existential crisis." But he tells Rachel Martin on Morning Edition that the museum's "attendance is of course, way, way below from where we were before the pandemic. And it's going to continue to be that way, even when restrictions are going to be lifted."

Back in April 2020, the museum had to lay off 81 employees in its customer service and retail departments and sizably cut the salaries of top executives.

The process of selling artwork, also known as deaccessioning, is regulated by the Association of Art Museum Directors, a professional organization that sets policies and guidelines for art museums across America.