Caillebotte's painting career slowed dramatically in the 1890s, when he stopped making large canvasses and showing his work. He acquired a property at Petit Gennevilliers, on the banks of the Seine near Argenteuil, and moved there permanently in 1888.
Caillebotte was not only a painter, but also a racing yachtsman who had a passion for speed and continually seeked to improve his boats. Being a naval architect, he drew and built his own boats in a workshop where he created true thorough-breds of the river, with which he earned many international titles. He contributed to the boat building craft with multiple innovations like silk veil, external ballast, aerodynamic hulls, etc.
Also being a highly skilled horticulturist, he devoted himself to gardening and created a large variety of orchids in his greenhouses. During this period, he corresponded with Monet at Giverny and spent much time with his brother, Marital, and his friend Renoir, who often came to stay at Petit Gennevilliers. Caillebotte died of pulmonary congestion, while working in his garden at Petit Gennevilliers in 1894, and was interred in the Père Lachaise Cemetery in Paris.
Gustave Caillebotte was for many years considered a minor Impressionist by art historians and it is only about seventy years after his death, that his role in the history of art was re-evaluated. Although he participated in many Impressionist exhibitions, he was noted mainly for his largess as a collector and as a patron of Impressionist artists. He not only financed Impressionist exhibitions, but he introduced Impressionism to French museums by bequeathing 40 masterpieces from his collection.
In his will, Caillebotte donated a large collection to the French government. This collection included sixty-eight paintings by various artists: Camille Pissarro (nineteen), Claude Monet (fourteen), Pierre-Auguste Renoir (ten), Alfred Sisley (nine), Edgar Degas (seven), Paul Cézanne (five), and Édouard Manet (four).
At the time of Caillebotte's death, the Impressionists were still largely condemned by the art establishment in France, which was dominated by Academic art and specifically the Académie des beaux-arts. Because of this, Caillebotte realised that the cultural treasures in his collection would likely disappear into "attics" and "provincial museums". He therefore stipulated that they must be displayed in the Luxembourg Palace (devoted to the work of living artists), and then in the Louvre.
Unfortunately, the French government would not agree to these terms. In February 1896, they finally negotiated terms with Renoir, who was the will's executor, under which they took thirty-eight of the paintings to the Luxembourg. The remaining twenty-nine paintings (one was taken by Renoir in payment for his services as executor) were offered to the French government twice more, in 1904 and 1908, and were both times refused. When the government finally attempted to claim them in 1928, the bequest was repudiated by the widow of Caillebotte's son. Most of the remaining works were purchased by Albert C. Barnes, and are now held by the Barnes Foundation of Philadelphia.
Forty of Caillebotte's own works are now held by the Musée d'Orsay. His L'Homme au balcon, boulevard Haussmann, painted in 1880, sold for more than $14.3 million in 2000.