Art collection
Simon accumulated a significant private art collection which included works of the Impressionists, Old Masters, modern and native art. In the 1960s, he spent $6 million on artworks – an inventory of slightly less than 800 objects – and real estate – a building at 18 East 79th Street – from the Duveen Gallery in Manhattan, which specialized in old masters.[6][7] Scholars including the critic Clement Greenberg and the Metropolitan Museum of Art curator Theodore Rousseau studied the Duveen purchases for Simon and were able to identify numerous misattributions. Simon ended up selling much of the collection and only kept around 130 objects, primarily paintings, a handful of sculptures, a few porcelains, and a cape purportedly worn by Charles IV of Spain.[6][7] However, his collection holds three signed Rembrandt paintings, considered highly important works among those of Rembrandt in Southern California.
Simon served as a trustee of the Los Angeles County Museum of History, Science and Art and supported the development of the LA County Museum of Art. Simon initially lent most of his art collection to that Museum although as it expanded he pioneered the "museum without walls" concept by actively lending his collection to different museums around the world.
In 1972, Simon bought a tenth-century South Indian bronze Nataraja, or dancing Shiva, from New York dealer Ben Heller for $900,000. The Indian government declared that the statue had been stolen from a temple in Tamil Nadu and smuggled abroad. Although Simon was quoted in The New York Times on May 12, 1973, as saying, ''Hell yes, it was smuggled. I spent between $15 and $16 million in the last two years on Asian art, and most of it was smuggled.[8] He later vehemently denied the quote in the May 13, 1973, edition of the Los Angeles Times'', declaring that the work had been legally imported into the United States. In the same Los Angeles Times article, he stated, "As a collector deeply and emotionally involved in art, I deplore the rape of art treasures of any country." In 1976, Simon reached an amicable agreement with the Union of India whereby he agreed to return the Nataraja. In exchange, the Indian government agreed that Simon could keep and display the bronze in his museum for nine years first.
Seeking a permanent home for his collection of over 4,000 objects, in 1972 he welcomed an overture from the financially troubled Pasadena Museum of Modern Art. He ultimately assumed control and naming rights, and in 1974 it was renamed the Norton Simon Museum. In 1987, the University of California, Los Angeles, announced an "agreement in principle" with Simon for the transfer to the university of the art collection owned by two Simon foundations – the Norton Simon Foundation and the Norton Simon Art Foundation.[9] The plan was to keep most of collection in Pasadena, administered by UCLA, the Simon board and the Norton Simon Foundation. The university was to build a separate museum facility on campus for part of the collection.[10] However, Simon withdrew his offer three months after the announcement was made.[11]