Privileged residents of New York City - and the tourists who besiege it - will soon have a significant new present to unwrap, namely a billion-dollar trove of paintings from the Cubist era donated to the Metropolitan Museum of Art by the cosmetics heir and heavy-weight philanthropist Leonard A. Lauder.
It might be hard to imagine an institution such as the Met, the largest art museum in the western hemisphere, being transformed by a single gift. Yet that will be the impact of the shipments that have already started to arrive from the private vaults of Lauder. In all, he has promised to hand over 78 Cubist pieces to the museum, including 33 works by Pablo Picasso and 17 by Georges Braques.
The collection, valued by Forbes at over US$1 billion ($1.16 billion), which will go on show next year, is "unsurpassed in the number of masterpieces and iconic works critical to the development of Cubism", the museum said. The gift is sparking particular curatorial delight because Cubism, which ushered in the wider period of abstract painting, has until now been under-represented on the Met's walls.
"This is a gift to the people who live and work in New York, and those from around the world who come to visit our great arts institutions," said Lauder, who is also funding a research institute into modern art at the Met.
The acquisition is also a major catch for the director of the Met, Thomas Campbell. Lauder had been mulling over where to send his collection for years.