Guggenheim Bilbao director admits to €4.2m loss

Picard, Charmaine
July 2008
Art Newspaper;Jul/Aug2008, Vol. 17 Issue 193, p11
The article reports on the admission made by Guggenheim Bilbao director Juan Ignacio Vidarte that the Spanish museum lost €4.2 million of public money when it purchased Richard Serra's "The Matter of Time," 2005, using U.S. dollars. Vidarte testified before the Spanish Parliament's Committee on Basque Culture in May 2008 about a 2007 government audit of the finances of the museum. A report claims that the museum paid more than $27 million for the acquisition of the art.


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