JERUSALEM (JTA) – The Israel Museum is selling 38 rare pieces of art estimated to be worth $17 million.
The money earned from the auctions will go to update the Jerusalem museum’s collection, the Israeli business daily Globes reported.
Sotheby’s will run the auctions beginning next month to include paintings by Magritte, Pissarro, Picasso and Chagall.
The museum decided to sell off some of its artwork due to a reduction in donations and a need to purchase newly recognized important works of art, according to Globes.
There are 500,000 objects and works of art in the Israel Museum’s collection.