In 1898 Baron Ferdinand de Rothschild bequeathed to the British Museum as the Waddesdon Bequest the contents from his New Smoking Room at Waddesdon Manor. This consisted of a wide-ranging collection of almost 300 objets d'art et de vertu, which included exquisite examples of jewellery, plate, enamel, carvings, glass and maiolica. One of the earlier objects is the outstanding Holy Thorn Reliquary, probably created in the 1390s in Paris for John, Duke of Berry. The collection is in the tradition of a schatzkammer, or treasure house, such as those formed by the Renaissance princes of Europe; indeed, the majority of the objects are from late Renaissance Europe, although there are several important medieval pieces, and outliers from classical antiquity and medieval Syria.

Baron Ferdinand de Rothschild, also known as Ferdinand James Anselm Freiherr von Rothschild, was a British banker, art collector and politician who was a member of the Rothschild family of bankers. He identified as a Liberal, later Liberal Unionist, and sat as a Member of Parliament in the House of Commons from 1885 to 1898. Ferdinand had a younger sister, Alice, who like her brother was a keen horticulturalist and collector. She inherited Ferdinand's property, Waddesdon Manor, in 1898 after he died and likewise continued the tradition of using the house as a place to keep his collections.