The ruling Conservatives will make a decision in October about what pieces will be put on the market.
Negotiations will then begin with British galleries about individual paintings but if prices cannot be agreed they will be sold to the highest bidder at public auction next spring.
Leisure boss Councillor John Hannides, said: “Once it has been determined what is available for disposal, then we would look to have those pieces valued.
“We will make it a priority to respect any conditions surrounding art that has either been gifted to the city or funded by other parties.”
The MLA, which tells the Government how millions in arts funding should be spent, is advising the council on what can be sold from the world famous collection.
But Anne Anderson, chairman of Friends of Southampton Museum and Art Galleries, said: “The people of Southampton should be asked what they want to happen to their art – it’s not up to those in the
council chamber to decide.”
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