Schwenke Auctioneers - August Fine Estates Auction - August 28

Billionaire William Louis-Dreyfus to Gift Art Collection to Harlem Nonprofit

  • March 04, 2015 20:05

  • Email
Julia and William Louis-Dreyfus on the "TODAY" show in 2014.

Some fifty years of collecting 3,500 artworks will culminate in a grand gift to a Harlem school. Paris-born billionaire William Louis-Dreyfus, 82, says his collection will be sold periodically to benefit school children. His bequest includes works by about 170 artists, from big names like Alberto Giacometti, Helen Frankenthaler, Wassily Kandinsky, and Jean Dubuffet, to outsider artists such as Bill Traylor and many lesser-knowns.

The collection is valued at between $10 million and $50 million, Louis-Dreyfus estimates.

Sale proceeds will go to the Harlem Children's Zone which aims to prevent generational poverty through "cradle to college" education and support. Louis-Dreyfus learned about the innovative nonprofit from a 60 Minutes episode.

Many major benefactors choose existing museums, or build their own, to showcase and gift their collections. Louis-Dreyfus, wants to sell his art to fund a worthy cause.

“I realized one morning that my children do not need to be any richer than they are, and they did not need the spoils from my collection,” he told Barron's. Instead, “I could do something good, and that I believe in.”

Daughter Julia Louis-Dreyfus, the actress, narrated a 2014 documentary about his collection called "Generosity of Eye."

Read more at Barron's


  • Email

More News Feed Headlines

Porsche Type 64

Auction Faux-Pas Stalls Bidding on $20 Million Porsche

  • CNN / August 20th, 2019

An unusual slip up could be behind an early Porsche not becoming the most expensive car from the luxury maker ...

Read More...
San Francisco Fall Antiques Show 2018

Renamed Fall Show, San Francisco's Destination Event Will Mix It Up With Art, Antiques and Design

  • ArtfixDaily / August 20th, 2019

Since 1981, the San Francisco Fall Antiques Show has been a key west coast event in the antiques category. Now in its ...

Read More...
 Pipilotti Rist, International Liquid Finger Prayer, 2019 (still).  Augmented reality.  Courtesy the artist and Apple

Apple and New Museum Launch App-Enabled [AR]T Initiative

  • ArtfixDaily / August 15th, 2019

Apple invited the New Museum to collaborate on a new Augmented Reality initiative to create a series of experiential ...

Read More...
Detail of the Taber Family Tianqiuping from the Philbrook Museum of Art that sold at Christie's Hong Kong in 2018 for HK$130,600,000.

Trump Imposes 10 Percent Tariff on Chinese Art and Antiques Starting September 1

  • ArtfixDaily / August 15th, 2019

U.S. President Trump deepened his trade war with China by imposing a new 10% tariff on Chinese art, antiques and ...

Read More...

ARTFIXdaily Artwire