The Nelson Gallery wants to burn the “mortgage” for one of the gallery’s prized possessions: The Palace at 9 a.m., Robert Arneson’s 70-square-foot ceramic ode to his 1950s-era Davis tract home.

“In order to finalize the last payment on our purchase of Arneson’s masterpiece, we need more funds, specifically about $4,000 at this time,” Nelson ARTfriends said in announcing an art auction fundraiser.

The gallery acquired The Palace 10 years ago for $200,000, with the university paying half and ARTfriends the other half, in yearly installments. Gallery Director Renny Pritikin said The Palace was appraised three years ago for almost $1 million.

The Burn The Palace’s Mortgage Silent Auction is taking place online through 5 p.m. May 14. The auction Web site shows each item up for sale, and lists a minimum bid and a “buy-it-now” price.

Auction Web site: nelsongallery.ucdavis.edu

More about Arneson and other UC Davis art faculty pioneers: ucdavis.edu/spotlight/1007/you_see_artists.html