Season to be giving (with a little help from your transactional attorney)
December 29, 2010
ArtDaily reported that the Ulla and Heiner Pietzsch, officially signed a donation agreement with the state of Berlin to gift their their internationally renowned collection to the city. The Pietzsch Collection contains Surrealist works from Paris and Abstract Expressionist works by the New York School, including works by Max Ernst, René Magritte, Joan Miró, Salvador Dalí, and Jackson Pollock, Mark Rothko, Robert Motherwell as well as Frida Kahlo and Diego Rivera.
The estimated value of the donation is €120 million. “The agreement will only come into effect under the condition that Berlin city council places the collection, in its entirety, in the hands of the Foundation of Prussian Cultural Heritage as a permanent loan, and that the Foundation guarantees that parts of the collection are placed on permanent display within its own collection of modern art.”
Photo by Mark Mattingly.