Speaking of Derek Fincham, he's posted a working manuscript of his soon to be published law review article on deaccessioning. Here's his summary:
"My proposal has three parts. First, the unnecessary restriction on deaccession proceeds should be eliminated. Second, when an important work of art is deaccessioned, other museums should be given an opportunity to purchase a work - to keep it in the public trust or its region - in much the same way the United Kingdom and other nations regulate the export of works of art. Finally, when any museum is considering a deaccession, it must provide reasons for the sale and publicize the decision to allow for public comment."
Sounds good to me! I look forward to reading the larger piece.