- SPONSORED -
A motion to sell three art works owned by the VUWSA Trust passed at the Initial General Meeting last Wednesday.
The three works include Mana Island by Don Binney, acquired by VUWSA in 1973 for $425, plus $50 for framing; Yellow Yantra by Wong Sing Tai, commissioned for $100 by VUWSA in 1970; and Western Desert, New Zealanders at Fort Capuzzo by Peter McIntyre, bought by VUWSA for an unknown amount after an exhibition on campus organised by their Art Committee.
The previous executive voted to sell the artworks last year as they were purchased by, not donated to, VUWSA.
Current VUWSA President Rory Lenihan-Ikin agreed with the decision. “The artworks were all acquired by VUWSA, so we are not risking any sentimental value that they would have had if they were donated.”
“The most significant of the three artworks has gone down in value, not up, so we are better off investing the money back into things that are going to be of greater benefit to students.”
In 2016 Mana Island was valued at $148,000, a drop from its previous valuation of approximately $300,000.
Yellow Yantra was valued at $3,800 and Western Desert, New Zealanders at Fort Capuzzo was valued at $7,500.
The three works are currently on loan to VUW until 2021 but can be returned to VUWSA with mutual agreement from both parties. They were held by the Trust but were a liability as the members have no experience in managing artwork.
They are not expected to appreciate and will be sold via auction.