Saturday, September 22, 2007

Bank Buys Contemporary Chinese Art for L.A. MOCA

Bank Buys Contemporary Chinese Art for L.A. MOCA
Published: August 29, 2007
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LOS ANGELES—In an unusual agreement, the Museum of Contemporary Art in Los Angeles has acquired a $2 million collection of Chinese contemporary art, purchased for the institution by East West Bank, the Los Angeles Times reports. Under the unorthodox arrangement, MOCA curators selected 11 paintings, drawings, sculptures, and photographs by six artists, including leading figures such as Xu Bing and Cai Guo-Qiang, and the bank paid for them. Starting Thursday, the works will be on public display at the bank, but they will also be available for exhibition at the museum and will become part of its permanent collection in 2026. MOCA director Jeremy Strick called the gift "a remarkably enlightened gesture.

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