A novel approach to supporting artists long-term is seeing their work collected to be sold in the future with the profits pooled. Braden Phillips reports on the Artist Pension Trust’s initiative.
For many artists, building castles in the sky would be a fair way to describe retirement planning.
Ten years ago, the New York-based program Artist Pension Trust contacted artists with this unusual idea: Give us some of your artworks as assets and rather than sell them as soon as possible, as a gallery would, we will hold them for future sale, probably at least for 10 years. In this way, artists could invest in their future security and benefit from a potential increase in the value of their work.
But the trust concept is about more than... Keep reading on The New York Times
For many artists, building castles in the sky would be a fair way to describe retirement planning.
Ten years ago, the New York-based program Artist Pension Trust contacted artists with this unusual idea: Give us some of your artworks as assets and rather than sell them as soon as possible, as a gallery would, we will hold them for future sale, probably at least for 10 years. In this way, artists could invest in their future security and benefit from a potential increase in the value of their work.
But the trust concept is about more than... Keep reading on The New York Times