Public galleries

Artbank is the largest single buyer of contemporary Australian art in Australia

Artbank, the Australian Government’s art rental collection, includes over 10,000 artworks from 3,500 artists in a range of mediums from paintings and works on paper to sculpture and video.

 

In 2011-12, Artbank invested $1 million in 270 works, at an average price per work of around $3,700. The collection is valued at approximately $36.3 million.

 

 

Table 4 - Artbank acquisitions and collection value (2008-09 to 2011-12)

Financial yearWorks acquiredAcquisitions ($m)Average acquisition price ($)Total value of the collection ($m)
2008-093021331135.1
2009-101750.8425134.9
2010-112960.9306135.6
2011-122701370436.3