Artbank
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Artbank is an art rental program established in 1980 by the Australian Government.
It supports contemporary Australian artists and encourages a wider appreciation of their work by buying artworks which it then rents to public and private sector clients.
It was modelled on the Canadian Art Bank, where the revenue raised from art rental is reinvested into new purchases.
As of 2006, Artbank has over 9,000 works of art in its collection, which is conservatively valued at more than AUS$20 million.
Artbank spends over AUS$500,000 annually purchasing new work.
The collection includes the works of more than 2,500 Australian artists and craftspeople from a diverse range of media and styles. Indigenous and non-Indigenous artists from each state and territory in Australia are represented.
Artbank is located in Sydney, Australia.
Artbank's current charter is as follows:
- to encourage contemporary Australian artists by acquiring their work
- to stimulate a wider appreciation of Australian art by making it available for display in public places, particularly work locations, throughout Australian and in official posts overseas
- to operate an art rental scheme directed to both public and private sector clients
- to manage the Artbank collection on behalf of the Commonwealth
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