Friday, January 1, 2021
Sheldon Solow, a real estate tycoon who pasted away in November at the age of 92 had one of the finest 20th-century art collections around. Following his death, the fate of the art collection has yet to be confirmed.
Solow has been known to participate in art auctions in which he both sold and bought masterpieces. Solow's collection has been valued around $500 million and would mean a lot to the art community given the short supply in the wake of the pandemic.
The art community is on the edge of their seats, as they know how important the decision is for the art world.
Solow's family has contemplated opening an art museum, which would allow the public to view the valuable art collection. According to Mia Fonssagrives Solow (Sheldon's widow), they are not concerned with comparing themselves to the Metropolitan.
The fate of the art collection remains unclear, but there is no doubt that the art world will be anxiously awaiting the final decision.
See Katya Kazakina, What Will Become of a Tycoon’s Art Gems?, NY Times, December 20, 2020.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.