Pennsylvania Academy of the Fine Arts Plans Hopper Sale to Fund Contemporary Art Endowment

The New York Times’ Graham Bowley reports that the Pennsylvania Academy of the Fine Arts will be selling East Wind Over Weehawken, a 1934 Edward Hopper painting, at Christie’s this fall, and “was sticking to its collections policy and standard practice in the museum field by dedicating all proceeds from the sale to the endowment to buy new artworks,” wrote Bowley. The museum bought the painting for $2,750 from Hopper’s dealer Frank K. M. Rehn in 1952; the piece is now estimated to sell for between $22 million and $28 million. Museum director Harry Philbrick noted that the sale would help the museum return to its mission of collecting contemporary art.