Art Money success in Melbourne - Art Collector

Petrina Hicks, Serpentina II, 2015. Pigment print, 100 x 100cm. Courtesy: the artist and This Is No Fantasy + Dianne Tanzer Gallery and Projects

 Art Money, the new scheme providing interest free loans to buy art launched in Sydney this March, has expanded to Melbourne, with 16 top galleries embracing the program seeing positive results.

Several Melbourne-based galleries have reported multiple sales within the first few weeks of operating. This Is No Fantasy + Dianne Tanzer Gallery being one of them.

“It's very exciting for people to have the flexibility of paying for an artwork over the best part of a year but getting to enjoy the work throughout that time. We have already had a number of sales through Art Money, from younger first-time collectors through to established clients,” says This Is No Fantasy + Dianne Tanzer Gallery gallerist Nicola Stein. “We can see that in the longer term, user-friendly access to funds to buy art helps broaden the Australian collector base and encourages a new generation of collectors.”

Beverly Knight of Alcaston Gallery is also pleased: “Already we have young budding collectors who are not surprisingly looking to purchase and support emerging artists,” says the dealer.

Designed to make owning art more affordable and accessible, Art Money gives collectors the opportunity to expand and build their collections in an affordable and accessible way. An on the spot credit check and 10 per cent deposit paid to the gallery provides buyers with an instant 10 month interest free loan between $750 and $20,000. The loan can also used for the shipping, framing and installation of the work, which can be taken home then and there. It can also be partially pay works of greater value than $20,000.

Melbourne participating galleries include Alcaston Gallery, Anita Traverso Gallery, ARC ONE, Blackartprojects, Catherine Asquith, Flinders Lane Gallery, Fort Delta, James Makin Gallery, Karen Woodbury Gallery, Lesley Kehoe Galleries, Lindberg Galleries, Nicholas Thompson Gallery, Scott Livesey Galleries, Sophie Gannon Gallery, This is No Fantasy, Trevor Victor Harvey and MARS.

Emily Cones-Browne

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