News ? Artful pensions
A new pension trust exclusively for visual artists has been made available for the first time in Europe. The Artist Pension Trust (APT) is seeking 250 artists to sign up to invest on a barter-based system, with artists saving artworks rather than money.
Each artist will invest 20 works over a 20-year period, with net profits from the sale of works in the future directed back to all the artists in the trust. While any artist may apply, participants will be selected by a panel of curators from across the continent. Fifty artists will be invited to join each year. The trust will determine how and when works are sold, with 40% of the profits from the sale of each art work being shared equally between all 250 artists in the trust, 40% going to the artist?s individual trust account and 20% to APT to cover running costs.
Join the Discussion
You must be logged in to post a comment.