(http://msnbcmedia.msn.com/j/MSNBC/Components/Photo/_new/121106-moore-sculpture2-345a.photoblog600.jpg)Bethany Clarke / Getty Images file'Draped Seated Woman' by Henry Moore was sold to one of London's borough councils at a knock-down price in 1962 on the understanding it would be displayed in the area, which was notorious for its social deprivation and which had also been heavily bombed during the Second World War. It is currently displayed at a sculpture park in Yorkshire.By Alastair Jamieson, NBC NewsLONDON — A debt-stricken district of London is to sell a sculpture gifted to the local area by celebrated artist Henry Moore (http://www.henry-moore.org/), prompting fierce criticism and raising questions over the future of other publicly owned artworks amid austerity cuts.
The mayor of Tower Hamlets — one of the poorest areas of Britain — decided late Wednesday to sell the 8-foot Henry Moore bronze statue "Draped Seated Woman" as the borough council tries to cut a deficit of $144 million.
It is thought the sale of the sculpture could raise up to $32 million for the council. Independent mayor Lutfur Rahman over-ruled the concerns of a committee of politicians to order the artwork be auctioned to the highest bidder.
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