The Dutch 'KunstKoop regeling' will be continued
Approximately 120 galleries in the Netherlands take part in the KunstKoop. Since the start of the scheme in 1997, 50,000 customers have used it for a total of € 166 million.
Mondriaan Fund and the Dutch Gallery market
The Mondriaan Fund has found a new partner for the popular KunstKoopregeling, which allows buyers to buy a work of art from a gallery without having to pay a deposit. Just in time, because the old donor, ABN Amro, terminated the collaboration last year. As a result, the scheme threatened to disappear on 1 April of this year. The new partner is Santander Consumer Finance Benelux, part of the Spanish banking group Santander. It is active in fifteen European countries. What is new is that the KunstKoopregeling will from now on be handled entirely digitally.
The KunstKoopregeling is especially important for the Dutch gallery market, which is struggling because the art market is increasingly determined by risky participation in fairs. 120 Dutch galleries participate in the KunstKoop. Since the start of the scheme in 1997, 50,000 customers have used it for a total of € 166 million. Director Eelco van der Lingen of the Mondriaan Fund says he is proud of his organisation's team that has kept a cool head in the search for a new lender over the past few months. The result is a new financial partner and a new digital jacket that makes the KunstKoop even more accessible. We are pleased that we have been able to enter into this collaboration and hope that not only will this be a successful continuation of the KunstKoop, but also that together with the new financial partner and gallery owners we can give a new impulse to the buying of art by private individuals.
KunstKoopregeling explained
The KunstKoop of the Mondriaan Fund offers Dutch individuals the possibility to pay for the purchase of an artwork in monthly installments, without any interest. The aim of this service is to encourage private individuals to buy art and in this way to stimulate the Dutch art market in general. About 125 art galleries in the Netherlands cooperate with the KunstKoop, and therefore the use is widespread.
The KunstKoop can be used for artworks by living artists or designers, produced after 1945. The minimum loan is € 250 maximum loan is € 7.500, for freelancers this will be € 5.000. The loan can be payed via monthly installments.
The Mondriaan Fund is a publicly financed fund for visual art and cultural heritage. It supports innovative projects and activities by visual artists, art mediators and institutions to promote the production and presentation of relevant Dutch visual art and heritage in the Netherlands and abroad.
Collaboration with ABN AMRO ends
ABN AMRO has decided to end its collaboration with the Mondriaan Fund for the Art Acquisition. The scheme in this form ends on 1 April 2020. Applications for loans can be submitted up to and including 29 February 2020.
Visit the website of the Mondriaan Fund for the latest information on the Art Acquisition Scheme.
Interested in buying art? Take a look at the website of Gallerease, for an extensive overview of high quality art!
