News Note

The Gaffé Bequest to UNICEF --
more than US $60 million

Fernand Léger's (1881-1955), Le moteur. An oil on canvas painted in 1918.

Mme René Gaffé's extraordinary bequest to UNICEF -- the proceeds from the sale of the legendary Gaffé Collection of Modern Art, one of the last great private collections of Twentieth Century art -- was realized on 6 November when the Collection was sold at Christie's auction house in New York. UNICEF will receive more than US $60 million.

The Collection included masterpieces by Picasso, Miró, Léger, Magritte, and others. In some cases the pieces were purchased directly from the artist as soon as they were completed, and few pieces in the Collection had been seen by the public in over fifty years. M. Gaffé passed away in 1968. Mme Gaffé died in October 2000 and left instructions in her will that UNICEF would be the beneficiary of this wonderful gift.

The sale set three new records. Léger's 1918 abstract painting Le Moteur (seen at right), set a world auction record for the artist of $16.7million. A new record for Miró's work was set when Portrait de Madame K fetched $12.6 million, and the $4.9 million paid for a bronze sculpture by Picasso was the highest price paid at a world auction for a sculpture by the artist.

"UNICEF is profoundly grateful to Mme Gaffé. Her extraordinary generosity has touched us very deeply", said UNICEF Executive Director, Carol Bellamy. "This donation will be felt for generations to come by the children whom she has helped with this gift."

Mme Gaffé's generosity will touch children and families around the world, now and for years to come. She has left a remarkable and truly humanitarian legacy.