Stricken by financial problems, the Royal Academy of Arts in London is weighing up selling a tondo by Michelangelo to save 150 jobs, reports the Guardian. The sculpture, which has been in the British institution’s collection since 1829, could fetch as much as 100 million pounds (around $128 million or P6.2 billion) if it goes to auction.
The health crisis has severely undermined the financial stability of the Royal Academy of Arts in London, which has announced that it will have to reduce its operating costs by eight million pounds (approx. $10.2 million or P497.6 million) if it is to avoid closure. The cut to its budget could result in the loss of 150 jobs, which account for 40% of the British institution’s workforce.
Read more on Pop Inquirer:
https://pop.inquirer.net/100354/royal-academy-of-arts-weighs-up-selling-michelangelos-taddei-tondo
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