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January 07, 2015

2 N.Y. Museums Battle for Modern Art and Younger Trustees

New York's Metropolitan Museum of Art and Museum of Modern Art, both with major expansions in the works, are in a high-stakes competition to acquire contemporary masterpieces and infuse their boards with new blood, according to Vanity Fair. The magazine's website offers a summary of the article, which appears in the February issue coming out Thursday.

Propelled by cosmetics tycoon Leonard Lauder's gift of 81 Cubist works valued at $1-billion, the Met is making big moves in 20th-century art, and it is "upwardly mobile at the moment," Picasso biographer John Richardson tells the magazine. Another factor affecting the balance of power between the institutions is their race to attract well-heeled younger trustees, "which in the museum world means anyone under 60," Vanity Fair correspondent Bob Colacello writes.