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deaccession

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de·ac·ces·sion  (dk-sshn)
v. de·ac·ces·sioned, de·ac·ces·sion·ing, de·ac·ces·sions
v.tr.
To remove and sell (a work of art) from a museum's collection, especially in order to purchase other works of art: "He also denied that ... friends of the museum were permitted to buy ... pieces that were deaccessioned" (New York Times).
v.intr.
To remove a work of art from a museum's collection and sell it.

deac·cession n.
ThesaurusLegend:  Synonyms Related Words Antonyms
Verb1.deaccession - sell (art works) from a collection, especially in order to raise money for the purchase of other art works; "The museum deaccessioned several important works of this painter"
artistic creation, artistic production, art - the creation of beautiful or significant things; "art does not need to be innovative to be good"; "I was never any good at art"; "he said that architecture is the art of wasting space beautifully"
commerce, commercialism, mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)
sell - exchange or deliver for money or its equivalent; "He sold his house in January"; "She sells her body to survive and support her drug habit"


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While the Ellen does not plan to deaccession anything, it has had a moratorium on new acquisitions since 2003 simply because the gallery does not have room for anything else.
Durand in 2005, brokered by Sotheby's to Wal-Mart heiress Alice Walton for her private "Crystal Bridges" museum in Bentonville, Arkansas (within a month of the deaccessioning's semisecret announcement), gained the library's endowment as much as Randolph College is currently expecting at auction from all its own deaccessions.
Also, institutions may have retention schedules that allow for or mandate deaccession after a certain prescribed time.
 
 
 
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