Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

SFMoMA Nearing $610m Fundraising Goal, Now Can It Build Collecting Interest Among Tech’s Billionaires?

June 23, 2014 by Marion Maneker

SFMoMA Expansion Rendering

One of the lasting mysteries of the current art market is why the wealth created in Silicon Valley has not become interested in art to the extent that finance money has or older collectors who made fortunes in real estate have. Could it be that center of the tech universe is simply lacking a major institution that can help drive interest and anchor the collecting habits of the new billionaires?

Bloomberg’s report today that SFMoMA has all but finished its fundraising campaign around the massive expansion that will house the

The biggest museum fundraising campaign in San Francisco history is nearing its $610 million goal two years before the opening of a new wing that will more than double the space for artworks by Andy Warhol, Mark Rothko and David Hockney.

About $570 million, or 94 percent, has been raised by the San Francisco Museum of Modern Art for its 235,000-square-foot (21,800-square-meter) expansion and to add $245 million to the museum’s endowment. The $305 million wing designed by the Snohetta architecture firm is rising behind SFMOMA’s current home, opened two decades ago in the technology-heavy South of Market area, or SOMA.

San Francisco Museum Nears $610 Million Fundraising Goal (Bloomberg)

More from Art Market Monitor

  • Braque Rocks AcquavellaBraque Rocks Acquavella
  • Auction Houses Dominate Dealers in Chinese Art MarketAuction Houses Dominate Dealers in Chinese Art Market
  • Who Says There Are No Sales?Who Says There Are No Sales?
  • Gawker Fingers Si in Leibovitz LoansGawker Fingers Si in Leibovitz Loans
  • Art Basel Is the Biggest Brand in ArtArt Basel Is the Biggest Brand in Art
  • The Tehran Auction Improves on Sophomore Outing Despite Iran’s Sinking EconomyThe Tehran Auction Improves on Sophomore Outing Despite Iran’s Sinking Economy

Filed Under: Museums

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Lost Lempicka Discovered at Sotheby's
  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • Vienna Secession Painting, Long Thought to Be Lost, Sets a Record at Auction
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Tony Podesta's Secret Art Buying
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Collection of Texas Heiress Anne Marion Expected to Fetch $150 M. at Sotheby’s
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Sotheby's Pulls in a $9m David Hockney for November
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor