LYNCHBURG, Va – The first of four paintings that Randolph College intends to sell to bolster its financial situation is up for auction.
Rufino Tamayo’s “Troubadour” will be offered at Christie’s Latin American art auction Wednesday evening in New York.
Opponents of the sale of paintings that were given to the college’s art collection obtained an injunction to block the college’s plans in November. But they dropped the case while they pursued a court challenge to the 2006 decision by the former women’s school to become coed.
Randolph officials have estimated that “Troubadour” could bring $2 million to $3 million. They hope to receive $50 million for the four paintings to add to the school’s $152 million endowment.