A flood at the University of Iowa where the Jackson Pollock mural resided, caused
much destruction. A bill put forth by an Iowa Congressman required that the mural
be sold (valued at approx. 150 million dollars). To help defray the cost. Why was the
University prohibited from selling the painting?
The actual value was far less and would not have helped the cause.
They actually did not own it.
lowa state law prohibits Universities from selling their assets.
Peggy Guggenheim had put in a letter that if the University was no longer
interested in the painting she gave them, they were to return it to her.
