On 1 May 1974, Packer died of heart failure at
The Royal Prince Alfred Hospital,
Camperdown of "
Pneumonia and reticulum cell
sarcoma". He was cremated at
Northern Suburbs Crematorium and his ashes were interred within the Packer family mausoleum at
South Head Cemetery. His estate was valued for probate in 1975 at $2,393,703.11 which, adjusted for inflation, would account to $23,232,745.54 in 2023. Notable items declared in his estate, were paintings and sketches from some of Australia's most renowned artists, located at the family home, 'Cairnton' at
Bellevue Hill was:
Penleigh Boyd: • "
Wattle Tree, signed and dated 1912" (oil on canvas)
Rupert Bunny: • "
Feeding the Ducks, signed" • "
Seated Woman with White Shawl, signed" (oil on canvas)
Sir William Dobell: • "Sketch of
Churchill's Hand giving the
'V' for victory sign, signed" • "''The Artist's Garden at
Wangi'', signed" (ink on paper) • "''The Artist's Garden and Balcony overlooking the
Lake at Wangi'', signed" • "
Woman in a Hamburger, signed and dated 1944" (oil on board) • "
Portrait of Helena Rubenstein, signed and dated 1959" (oil on board) • "
Boy in a white Lap Lap, signed and dated 1952" (oil on board)
Sir Russell Drysdale: • "
The Hangar" (watercolour and ink on pencil) • "
Men and Bird - Bass Straight, signed" (oil on canvas)
Robin Hill: • "
Grey Goshawke, signed, titled and dated 1958" (water colour)
John Perceval: • "
Cow bogged in a Swamp, signed and dated 1960"
Albert Tucker: • "
The Card Game, signed and dated 1958" (oil on board) ==Honours==