10 Group launches Art Money - Art Collector

One of the artworks available under Art Money: Hiromi Tango, Now, 2015. Neon and mixed media, 93.5 x 98.5 x 27cm. Courtesy: the artist and Sullivan+Strumpf, Zetland

Art Money, a new interest free art loan program in Sydney, was launched by 10 Group this month.

Launched by Lord Mayor Clover Moore and CEO and Group Fairs Director Barry Keldoulis at Sullivan+Strumpf gallery in Zetland, the program is designed to make owning art in Sydney more accessible and immediate than ever before.

Designed to stimulate art buying among both first time and seasoned collectors, the program allows buyers the opportunity to take an artwork home immediately and pay it off over the course of 10 months in an interest-free loan on works priced from $750 to $20,000.

The program is designed to help sustain commercial galleries and support artists in selling their work. 10 Group and Art Money CEO Paul Becker explains: “Art Money is about supporting the creative economy- artists are amongst our most creative yet lowest paid workers, and most galleries are small business owners passionate about contemporary art.”

Moore also notes that Art Money is one of the first actions to be implemented from the Creative City Policy. “It will have real cultural benefits while helping our economy, particularly the small business sector,” she says.

Based on existing successful schemes in Tasmania and the United Kingdom, Art Money has been immediately available in over 25 leading galleries across the city, including .M Contemporary, The Commercial, Galerie pompom, Gallery 9, Jensen Gallery, Michael Reid, Olsen Irwin, Roslyn Oxley9 Gallery, Sullivan+Strumpf and Wagner Art Gallery.

Applications for the loan are done so online at home or in the gallery. Once approved, the loan offer is valid for purchases at any participating gallery for 30 days.

Emily Cones-Browne

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