HomeMy WebLinkAboutCity Council Resolution 2020-247
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-247
R ESOLUTION A PPROVING TO A UCTION THE L ARRY P OONS A RTWORK, ‘P ANAMAR”
(P OONS) AND USE THE P ROFIT FOR F UTURE A RTWORK I NSTALLATIONS AT THE
P LYMOUTH C REEK A CTIVITY C ENTER.
WHEREAS, City of Plymouth acquired the Poons in June 1998 as a donation from Franklin National
Bank of Plymouth; and
WHEREAS, City staff and Plymouth Arts Council representatives determined the best location for
installation of the artwork was at the Plymouth Creek Activity Center (PCC). It has been on display since
the opening of the facility in 2000; and
WHEREAS, in October 2019, the City hired Personal Property Solutions (PPS) to inspect the
artwork and provide an appraisal report on the painting; and
WHEREAS, PPS received an auction estimate from Phillips Auction House (Phillips) in New York
of $50,000-$70,000; and
WHEREAS, a Larry Poons sold for $200,000 through Phillips in July with an estimate auction
value of $25,000 - $35,000; and
WHEREAS, in November 2019, the Plymouth Arts Council and staff reviewed the PPS appraisal
report and recommended the sale of the Poons based on the overall dislike of the piece and the pending
renovation and expansion project; and
WHEREAS, the PPS appraiser researched comparable artwork at retail galleries and
recommended using Phillips as they specialize in 20th century art; and
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WHEREAS, Phillips has a deadline of mid-September for their 2020 sale of 20 Century and
Contemporary art auction to be held in November; and
WHEREAS, profit from the sale of the Poons would be anticipated at $35,000-$200,000. Phillips
would withhold a 6% commission from the final sale price. Final proceeds from the sale would be put
into a dedicated fund for future art installation at the Plymouth Creek Center; and
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that the Larry Poons artwork ‘Panamar’, as presented is approved to be auctioned and
staff is authorized to proceed with the process.
APPROVED by the City Council on this 8th day of September, 2020.