Artbank facts for kids

Artbank is an Australian program that lets people and businesses rent artworks. It was started in 1980 by the Australian Government. The main goal of Artbank is to help Australian artists. It does this by buying their artworks. Then, it rents these artworks to different clients, like companies and government offices.

The idea for Artbank came from Canada's Art Bank. Bob Ellicott, who was a government minister at the time, really pushed for it. He convinced Prime Minister Malcolm Fraser that it was a good idea. Artbank first received 600 artworks from the National Gallery of Australia. Since then, its collection has grown a lot. It now has over 11,000 artworks by more than 3,500 Australian artists. These artworks include paintings, sculptures, videos, photos, and ceramics.

Artbank makes its own money to operate. It has special storage places for art in Sydney, Melbourne, and Perth. Artbank also offers a studio program for artists and designers in Melbourne.

How Artbank Started

Artbank was inspired by Canada's Art Bank. In 1979, Bob Ellicott, who was a minister, saw the art collection in Ottawa, Canada. He thought it was a great idea for Australia. He then convinced Prime Minister Malcolm Fraser that Australia should have its own art bank.

Prime Minister Fraser liked the idea. The treasurer, John Howard, needed a bit more convincing. But in the end, he agreed to give Artbank A$250,000 to start. This money is called "seed funding." In 1980, Artbank began with 600 artworks. These artworks were given from the National Gallery of Australia.

By 1992, Artbank was doing very well. It was making enough money on its own. Because of this, the government stopped giving it money. Artbank became self-funded. In 1997, there was a plan to close Artbank. But many people spoke up and fought to keep it open, and they succeeded. By the year 2000, Artbank was making a profit of A$700,000. Its total value was A$13.7 million.

What Artbank Does

Artbank is part of an Australian government department. Its main job is to support Australian artists. It buys their artworks to help them. It also wants to show Australian art to more people.

The Artbank collection started with 600 artworks. Now, it has over 11,000 works. These include paintings, sculptures, videos, and photos. Artbank rents out these artworks to different groups. This includes individuals, companies, and government offices. By doing this, Artbank helps more people see and enjoy Australian art.

The Director of Artbank is Zoe Rodriguez (as of October 2023).

Artbank's Collection

As of 2020, Artbank has more than 11,000 artworks. These works are by over 3,500 Australian artists. The collection includes many types of art. You can find paintings, sculptures, video art, photographs, and ceramics.

Some famous artists in the collection include Jeffrey Smart, Julie Dowling, and John Olsen. Other well-known artists are Bill Henson, Patricia Piccinini, and Tracey Moffatt. Artbank chooses artworks based on their cultural value. This means they buy art that is important for Australian culture. They don't just buy art to make a profit. This allows them to buy unique and sometimes "riskier" pieces. Artbank also has the fastest-growing collection of digital and multimedia art in Australia.

Artbank has special art storage places. These are located in Sydney, Melbourne, and Perth. The Melbourne location moved to a converted warehouse in Collingwood in 2018. This Collingwood location also has a studio program. Artists and designers can apply to use these studios.

Renting Art from Artbank

Artbank rents its artworks to many different clients. These include businesses, government groups, and even private people. For example, a famous chef named Kylie Kwong rented artworks for her restaurant in Sydney in 2018.

Businesses can get a full tax deduction for renting art from Artbank. This means they can save money on their taxes. Artbank also sells some artworks from time to time. This happens as part of their regular collection checks.

The cost to rent an artwork from Artbank varies. It can range from A$165 to A$5,500 per year. You can rent an artwork for six months to a year. You can also keep extending the rental period for as long as you like.

See Also

• Art Bank