This pension model provides long-term financial security as well as increased exposure for professional artists. The Artist Pension Trust (APT) enables artists to contribute pieces over a 20 year period. The largest contemporary art collection in the world is therefore, also a way to provide financial stability to those in the creative industry.
APT curators pick emerging artists to participate in one of the internationally distributed trusts. There is also a communal element to the pension model -- individual artists receive 40% of the sale, where as 32% is redistributed among other trust artists and the remainder goes to running the APT (which is a non-profit organization). According to SpringWise, APT "will sell pieces at maximized prices via their expert panel, loan works to galleries for promotions, and enter some artwork into competitions."
Artist Pension Funds
APT's Pension Model Provides Long-Term Financial Stability for Artists
Trend Themes
1. Long-term Financial Security - Providing artists with a sustainable financial future through pension models.
2. Increased Exposure for Artists - Leveraging contemporary art collections to showcase emerging artists on an international scale.
3. Collaborative Artist Networks - Implementing communal elements in pension models to support and uplift artists within a trust community.
Industry Implications
1. Art Investments - Exploring investment opportunities in contemporary art as an alternative asset class with long-term growth potential.
2. Creative Financial Services - Developing specialized financial services specifically tailored to the needs of artists and creatives.
3. Online Art Platforms - Creating digital platforms that enable artists to showcase and sell their work directly to a global audience.