You can now get an interest-free loan to buy local art. Take home that piece you’ve had your eye on now and pay for it later..
Art Money is a City-supported program from 10 Group. The program provides interest-free loans to buy artworks priced between $750 and $20,000 at participating galleries in Sydney. Your payments will be spread over 10 equal monthly payments, with an initial 10% deposit.
All you have to do is fill in an application for an in-principle approval and find your piece. You can do both either online or in the gallery. To buy, you need to head into the gallery with ID and your deposit and the artwork is yours to take home!
Art Money was the first project to come out of our Creative City Cultural Policy and Action Plan. It’s developed from one of the most popular recommendations from our community consultation. It’s based on successful loan programs in the UK, the Netherlands and Tasmania. Art Money aims to make buying art more affordable, help support local artists and galleries and make sure Australian art and culture is sustainable.
So far, 2,500 artworks worth $9 million have been sold in Australia, New Zealand and the US with Art Money. There are 54 gallery partners in the inner city, where buyers have spent a collective $500,000 on art with the program. Almost a third of Art Money customers were first-time buyers and half bought art at a higher price point than they otherwise would have.
Find out more at artmoney.com.au.
Published 31 May 2018, updated 20 March 2024
