Fisk University has won at the appeals court level its bid to use the $30 million being offered by Crystal Bridges Museum of American Art for a half share in its Stieglitz Collection to support the university, The Tennessean reports today.
The 2-1 vote means the university would not have to set aside $20 million of the $30 million Crystal Bridges offered to create an art endowment. The case now goes back to Davidson County (Tennessee) chancery court to decide the details. The state of Tennessee has not decided whether it will appeal.
It's the latest ruling in years of court hearings over the offer, first made by Alice Walton, founder of Crystal Bridges, in 2007. The state has argued that selling the work violates the intent of the gift by Georgia O'Keeffe, who made the donation to Fisk.
A list of objects in the Stieglitz collection can be found here. It is not solely American art but includes work by Cezanne, Renoir, Picasso, Signac, Toulouse Lautrec and other Europeans. Among the American artists in the collection: O'Keeffe (including "Radiator Building," itself valued at $20 million and which the university had considered putting up to auction before Walton made her bid), Charles Demuth, Arthur Dove, Marsen Hartley, Stanton Macdonald-Wright, John Marin, Afred Maurer and more.