Struggling Museums: Sell or loan your art?

Brandeis University, which stirred controversy last year by proposing to close its Rose Art Museum, now plans to hire Sotheby’s auction house as a broker to raise money by loaning out artworks, the school confirmed yesterday.

Such loans from the Rose’s prized collection, if they take place, would help Brandeis avoid selling the works outright.

Founded in 1961, the Rose boasts a collection of 7,500 objects valued by some at more than $350 million, including works by such giants as Matisse, Willem de Kooning, Jasper Johns, Robert Rauschenberg, Roy Lichtenstein, and Andy Warhol. In January 2009, Brandeis proposed to close the museum and sell its artworks to help re solve a budget crisis.