The museum was built in memory of artist Gerður Helgadóttir (1928-1975) and opened in 1994. Gerður Helgadóttir was a pioneer of three-dimensional abstract art and glass art in Iceland. The museum collection holds over fourteen hundred works by Gerður Helgadóttir and a large collection of works by the 20th century artists Barbara Árnason, Magnús Á. Árnason and Valgerður Briem among works by various contemporary artists.