Norman Braman made his fortune by amassing a formidable chain of car dealerships. It’s been estimated that more than half of their reported $1.6 billion fortune is invested in art, including pieces by Warhol, de Kooning (they loaned major pieces to the Museum of Modern Art’s 2011 retrospective), and Calder, whose work inspired them to begin collecting in 1979. They’re not afraid of placing a high bid at auction. “If you buy the best of an artist it doesn’t matter how much you pay for it,” Norman told Forbes in 2011. “The market will catch up.” The Bramans are financing the creation of a 37,500-square-foot home for the new Institute of Contemporary Art, Miami. Norman told the New York Times last year, “Whatever the cost is, we will be building it, period.”
Copyright 2017, Art Media ARTNEWS, llc. 110 Greene Street, 2nd Fl., New York, N.Y. 10012. All rights reserved.