He was a keen art collector and usually bought the Royal Academy Picture of the Year, and at his death in 1902 left about 130 paintings, including Constables, Landseers and Millais worth over £100,000, the money mainly going to the City of London. As he had no children he left £400,000 to St. Thomas's Hospital, London, which still has the Gassiot wing named in honour of his generosity, and £3,000 to Gassiot School, this Trust is still administered by the diocese and school managers.