The Pennsylvania Academy of the Fine Arts will sell a painting by Edward Hopper to start an endowment fund to acquire contemporary art. East Wind Over Weekhawken is one of two paintings by the American Modernist artist in the museum’s collection. The work will be sold at auction at Christie’s in New York in December and is expected to garner between $22 million and $28 million.
East Wind Over Weehawken was purchased by the museum from Hopper’s dealer, Frank K.M. Rehn, in 1952 for $2,750. If the painting realizes its pre-sale estimate, it will quintuple the funds generated annually for acquisitions. While a portion of the endowment will be used for purchasing historic art, the majority of new acquisitions will be in contemporary art, mainly American painting and sculpture.
The Pennsylvania Academy will keep its other Hopper painting, Apartment Houses, which was purchased from the artist directly and was the first oil painting by Hopper to enter the Pennsylvania Academy’s collection.
