Art Bank Jo'burg provides answers to some frequently asked questions
The launch of the Art Bank Jo'burg in 2006 ushered onto the scene a much-needed new institutional patron. While much support for contemporary South African art has been derived from corporations in the last few decades, the attentions of such corporations have been largely directed towards established artists, safe bets on which to spend corporate funds. The Art Bank Jo'burg is important in that it takes the (calculated) risk of purchasing art, and gives corporations the opportunity to lease works from it for fixed periods, thus diminishing corporate responsibility and opening up potential markets of fresh contemporary art to corporations with less money to throw around.
This month, CEO of the Art Bank Jo'burg Antoinette Murdoch released some answers to frequently asked questions concerning the mission, scope and general philosophy of the Art Bank Jo'burg. These are reproduced below, and will hopefully provide a greater understanding amongst our readers of this important though not uncontroversial endeavour. (Note: this is not an interview ArtThrob conducted with Art Bank Jo'burg: rather, the document below was received in its entirety from Ms Murdoch, and addresses issues that have emerged as relevant during her tenure thus far.)
Question 1: Is the Art Bank sustainable?
Yes, Art Bank Jo'burg is a business which was established by the Economic Development Unit of the City with an initial financial boost of R5 500 000. Art Bank Jo'burg is managed by a highly competent team of Board members and staff who have scrutinised and reviewed international models for the construction of the local initiative. Artwork is specifically selected to service various clients and care is taken to not buy artwork that will become obsolete. Various tried and tested mechanisms are in place to ensure the longevity of this project. The art bank model has been instituted in many countries with great success. Art Bank Jo'burg has immense support from some of these international bodies thus enabling this local initiative the opportunity to learn from their international counterparts.
Question 2: The Art Bank claims to support emerging artists, but it seems that there is a large amount of art purchased from established artists?
The Art Bank's policy is to purchase a minimum of 70% of artwork from emerging artists and the remaining 30% from established artists. So far, this policy is strictly being adhered to.
Question 3: Does the Art Bank devalue/cheapen art?
No, Art Bank Jo'burg aims to make art accessible to the public. Many young artists are eager for their art to be accessible to everyone. This process of accessibility is facilitated by the Art Bank thus ensuring that contemporary art is available to individuals who otherwise would not be exposed to it.
Question 4: Is the Art Bank in direct competition with galleries for potential investors wishing to purchase art?
No. Serious investors will not easily be derailed with the potential of being able to rent artwork since this is not their objective. However, by exposing many individuals to good contemporary work, Art Bank Jo'burg is cultivating potential investors for the future.
Question 5: Is the Art Bank's support to artists restricted to once-off purchases?
In the case of emerging artists, the Art Bank may purchase several artworks from the same artists over a time period, provided that they deliver works of a high standard that suits clients of the Art Bank.
Question 6: Does the Art Bank fulfill a curatorial role?
No, the Art Bank does not assume the position of curatorship. In the case of the Jo'burg-themed work selected for the launch of the Art Bank, it was a case of identifying that our clients were very interested in artwork dealing with the theme of Johannesburg. The pieces exhibited at the launch have mostly already been placed with clients. In fact, many of those pieces had already been placed prior to the launch.
Question 7: What 'kind of art' does Art Bank Jo'burg collect?
The Art Bank's objective is to purchase contemporary art by mostly (70%) emerging artists who are currently living and/or working in Johannesburg. The Art Bank has specific criteria in place and ultimately each artwork will be judged on individual merit. While the evaluation of art can be subjective, the Art Bank will always strive for high standards.
For further information please contact Antoinette Murdoch:
Tel: (011) 838 6266
Email: antoinette@artbankjoburg.co.za
