USX Corp. Selling 64 Works of Art
<i> Associated Press</i>
PITTSBURGH —
USX Corp. is bucking a corporate trend by auctioning dozens of works of art from its collection.
Most companies, experts say, buy fine art to enhance the working environment for their employees, not as an investment.
But the steel and energy giant decided to sell 64 works from its 100-piece collection because they can “fetch a price,” USX spokesman Bill Keslar said.
Buyers this week snatched up the 15 contemporary pieces for $2.5 million, about $750,000 more than the pre-auction estimate.
Keslar said profits from the sale will be returned to the company’s general funds.
