Looks like the money raised at Christie’s recent sale of Warhol Foundation inventory is already being put to use. The board voted this morning to donate up to $2 million in emergency grants to New York-area arts organization and artists still reeling from Hurricane Sandy. (The news first came to us from Wall Street Journal reporter Kelly Crow‘s Twitter feed.) Other artist estates are getting involved, too: the Rauschenberg and Lambent Foundations will be augmenting the fund.
“Every effort helps in a state of emergency — we are struck by the scope of need,” Christy MacLear, executive director of the Robert Rauschenberg Foundation, said in a statement. “Pooling our resources with other artist foundations will help simplify the points of access for both artists and organizations — hopefully making the process of request as simple as possible for those hardest hit.” Arts organizations and individual artists can apply for grants through email@example.com and www.nyfa.org, respectively.
On Monday, Christie’s held the first in a series of sales devoted to the Andy Warhol Foundation, which is liquidating its inventory to raise money for its grant-making programs. The sale brought in a respectable $17 million. The foundation hopes subsequent sales, which will roll out live and online over the next several years, will raise a combined total of $100 million.
— Julia Halperin