He explains the purpose of the gallery is to educate the public and foster an appreciation for contemporary Australian art.
“My brother and I have practiced donating through foundations [and] giving a lot of money to scientific research, medicine and underprivileged people," Buxton said. "[This] is really no different to what we've done in the past except it's a lot bigger.
“We structured it on the basis that we donate the art over a period of five years, a large sum of money to establish the running of it and then extra money over 20 years to help finance the [ongoing costs].”
Buxton says their involvement in the business-side of the gallery is that the collection is to be run as a not-for-profit. “We do it for the love of collecting art,” he says.
Watch the video above to learn more.
Peter Wilmoth is a freelance journalist.