Asian Art Museum-In Trouble

Filed in Gather Life & Style Essential by on November 19, 2010 0 Comments

The Asian Art Museum, San Francisco, CA, is in financial crisis.  The museum houses, among many important artifacts, one of the oldest known Chinese Buddha sculptures http://online.wsj.com/article/SB10001424052748703374304575622951057940936.html?KEYWORDS=art+market.

The good news is that the Museum’s financial problems are not due to poor ticket sales, as is the case with many museums these days.  Instead, it’s due to the rising interest rate on a variable-rate loan the museum secured in 2005.  Hopefully, the rising cost of the debt can be worked out with the loan holder.

The price of admission to the Museum may increase as a result of this situation.  However, patrons should keep in mind any price increase will help keep the doors open and keep our eyes affixed to one of the most extraordinary collections in the world.

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