The Fondation Beyeler is to have its first acquisition budget thanks to the late Ernst Beyeler, the art dealer and co-founder of Art Basel, whose private collection it houses.

According to Sam Keller, the director of the foundation, the funding to add to the collection comes from an endowment, comprising money from Beyeler plus the proceeds of a Christie’s auction of his inventory to be held in London next week (21-22 June). Prior to Beyeler’s death in February 2010, he gave “one or two pieces” a year to the Renzo Piano-designed museum, which opened to the public in 1997.