Keith L. Sachs, the former chief executive of Saxco International, and his wife, Katherine are giving a major gift to the Philadelphia Museum of Art from their contemporary collection.
The couple are also major buyers of contemporary art, working closely with museum curators to amass a top-flight collection of paintings, drawings and sculptures from the 1950s to the present. This week, the museum announced that it had been promised a lion’s share of the Sachs holdings. Included in the gift are 97 works by contemporary masters like Jasper Johns, Ellsworth Kelly, Brice Marden and Gerhard Richter, worth nearly $70 million, according to auction house experts asked for their assessment. Timothy Rub, the museum’s director, said it was one of the most important gifts of contemporary art in the institution’s 138-year history.
Original source: The New York Times
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