The Art Institute of Chicago sure has been getting a lot of gifts lately. Last year, the museum received a collection of more than 40 contemporary works valued at $400 million, now on display in "The New Contemporary" exhibition. Now, the institution has been given $35 million to acquire new works of art—the largest bequest of funds in the museum's history.
The bequest was given to the Art Institute by longtime benefactor and collector Dorothy Braude Edinburg, who passed away early last year. Edinburg previously donated more than 1,500 pieces to the museum, including European prints and drawings, Chinese porcelains and Japanese books. In a statement released by the museum, trustee David Hilliard said, "This generous bequest ensures her collection will continue to inspire and educate the public, and embodies the excellence and mission of the Art Institute."
What will the Art Institute be able to buy with the money? It's likely that the museum will focus on smaller purchases, rather than blowing the entirety of the sum on a piece by a widely known artist. After all, $35 million is only a fraction of the approximately $300 million that was paid for Paul Gauguin's 1892 painting Nafea Faa Ipoipo at an auction last year.