"In a surprise move, cosmetics billionaire Ronald Lauder's Neue Galerie will merge with the Metropolitan Museum of Art down the street on Manhattan's Fifth Avenue. The rare merger will come into effect in 2028, The Met announced in a statement today, May 14. Neue Galerie holds a collection of late 19th- and early 20th-century artworks from Austria and Germany, including its star attraction: Gustav Klimt's gold-leafed "Portrait of Adele Bloch-Bauer I" (1907)."
"It's also known for its collection of masterpieces by Egon Schiele, Oskar Kokoschka, Max Beckmann, Gabriele Münter, Josef Hoffmann, and others. Lauder and dealer Serge Sabarsky, a collector of Austrian and German art, co-founded the museum together in November 2001. In a press release, Lauder billed the merger as a way to "strengthen the Neue Galerie's legacy in perpetuity.""
"The merger comes nearly 80 years after The Met absorbed the once-independent Museum of Costume Art, creating its Costume Institute, the beneficiary of its annual Met Gala. But unlike that 1946 merger, during which the Met absorbed the Costume Art Museum's collection, the Neue Galerie will retain its space and remain a fully staffed institution, a Met spokesperson told Hyperallergic."
Neue Galerie, founded by Ronald S. Lauder and dealer Serge Sabarsky, will merge with The Metropolitan Museum of Art in 2028. The museum’s collection focuses on late 19th- and early 20th-century Austrian and German art, including Gustav Klimt’s gold-leafed “Portrait of Adele Bloch-Bauer I” (1907). It also includes major works by Egon Schiele, Oskar Kokoschka, Max Beckmann, Gabriele Münter, Josef Hoffmann, and others. The merger is intended to strengthen Neue Galerie’s legacy. Unlike an earlier 1946 absorption of the Museum of Costume Art, Neue Galerie will retain its space and continue operating as a fully staffed institution. Lauder has supported the Met with major gifts, including Cubist artworks and arms and armor.
Read at Hyperallergic
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