Palazzo Grassi

Lonely Planet review

Magnates can be a mercurial lot. And French wheeler-dealer and contemporary art collector François Pinault surprised just about everyone in France and Italy when he snapped up the grand Palazzo Grassi in Venice as the central home for his considerable and eclectic collection.

Palazzo Grassi is named after the family that commissioned its grand, classical design from Giorgio Massari (c 1686-1766) in 1749. It is built around an enclosed colonnaded courtyard. Pinault snapped up an 80% share (the rest is with the city of Venice) from former owners Fiat in 2005 for the bargain price of around €29 million. Given a light-handed overhaul on the inside by star Japanese architect Tadao Ando (who left the original décor and beautiful ceilings untouched), the Pinault art headquarters is an important new contemporary art exhibition centre.

A part of Pinault's vast possessions (more than 2000 items), is often on rotating display in temporary themed exhibitions lasting around six months. His collection covers a broad canvas of modern and contemporary art, including such modern icons as Mark Rothko, Jeff Koons, Mario Merz and Cy Twombly.