Sell the Kandinskys and Schieles, say Deutsche Bank

October 8 2020

Image of Sell the Kandinskys and Schieles, say Deutsche Bank

Picture: Deutsche Bank

Posted by Adam Busiakiewicz:

Deutsche Bank is the latest organisation to announce that it will begin selling off parts of its art collection. The Art Newspaper have reported that the bank is to start selling over 200 works in the next three years, beginning with three works by Wassily Kandinsky and Egon Schiele. The bank is said to have around 55,000 works of art in its collection, focusing mostly on works on paper and photographs.

The article features an interview with the bank's art department head Friedhelm Hütte who says:

“We are not as active in exhibiting and loaning this older part of our collection, and that is a shame,” Hütte says. “These works are very valuable and some of them have to stay in storage.”

The proceeds expected from upcoming the auctions “are not of the dimensions to strengthen the bank’s finances,” Hütte says. “This relatively small sum is great for buying art.” 

“This is linked to our continued commitment to artists and galleries, which is particularly important at the moment,”

The bank is currently in the process of cutting a reported 18,000 jobs in a major restructuring plan.

Notice to "Internet Explorer" Users

You are seeing this notice because you are using Internet Explorer 6.0 (or older version). IE6 is now a deprecated browser which this website no longer supports. To view the Art History News website, you can easily do so by downloading one of the following, freely available browsers:

Once you have upgraded your browser, you can return to this page using the new application, whereupon this notice will have been replaced by the full website and its content.