Collector Ingvild Goetz, the daughter of German entrepreneur Werner Otto, has given her Munich museum to Bavaria, along with 375 additional contemporary artworks. Four thousand more works from her collection will be placed on permanent loan.
Ms. Goetz’s museum, which was designed by the architectural firm Herzog & de Meuron, has works by Isa Genzken, Andreas Gursky, Richard Prince, Cindy Sherman and Mike Kelley. Many of the donated works are videos.
Bloomberg quotes The Muenchner Merkur, a Bavarian newspaper, as estimating the gift at around 30 million euros, or $40 million.