Eligibility

To be eligible for a COLLECT Art Purchase Scheme loan you must:

  • be 18 years of age or over
  • not have another outstanding COLLECT Art Purchase Scheme Loan
  • be an individual buying the art for private use
  • reside in Australia and undertake not to export the work of art while any part of the loan is outstanding without the written consent of Arts Tasmania
  • complete and submit the loan application form
  • have appropriate proof of identity documents and can present these to the arts business at the time of application (unless a remote application)
  • have a bank or building society account that can be used for direct debits and understand that monthly direct debit on a date nominated by Arts Tasmania is the only form of payment Arts Tasmania will accept in repayment of the loan, and
  • have read and accepted the loan agreement terms and conditions.

Loans are not available for:

  • businesses, organisations, partnerships or incorporated bodies
  • staff members of the Cultural Tourism Development Division of the Department of State Growth
  • management and staff of arts businesses that are members of the COLLECT Art Purchase Scheme other than for purchases from arts businesses where they  are not employed.

Terms and conditions

  • The commissioning or purchase of artwork through the scheme is only available through COLLECT Art Purchase Scheme approved arts businesses.
  • A loan application cannot be processed until Arts Tasmania has received both a signed Loan Information Form from the arts business and a Loan Application Form including proof of your address and identity.
  • The loan application is subject to approval by Arts Tasmania.
  • Loan amounts must be between $1 000 and $8 500.
  • The minimum retail price of all artworks to be purchased is $250 and the maximum retail price of an artwork to be purchased is $11 500 (a deposit is required for a purchase over the maximum loan amount of $8 500).
  • For the purposes of the COLLECT Art Purchase Scheme, direct debit is the only form of payment available. A direct debit payment schedule will be established for an account you nominate based on 12 monthly loan instalments. The date of the repayments will be predetermined by Arts Tasmania and detailed in the Loan Agreement.
  • Should any one instalment due to the COLLECT Art Purchase Scheme be dishonoured, a fee, currently $25, will be charged. This fee must be paid along with the payment of the instalment that was dishonoured.
  • Should any one instalment due to the COLLECT Art Purchase Scheme be unpaid within five days of the due date, the outstanding loan balance will become payable immediately and accrue interest at the rate of 13 per cent per annum.
  • The loan must not exceed the 12 month period or you will be charged interest on any unpaid amounts due to Arts Tasmania at the rate of 13 per cent per annum, until payment in full is made.
  • The loan will be increased by the sum of any interest accruing to late payments, payments in default and the court fees and legal expenses of any action incurred by the COLLECT Art Purchase Scheme arising from your default.
  • The loan can be paid in full at any time within the 12 month period without penalty for early repayment.
  • If you do not take up the offer of loan within five working days the offer may automatically lapse.
  • For the purposes of the COLLECT Art Purchase Scheme, you are only able to have one COLLECT loan outstanding at any one time. While you are able to purchase more than one artwork, they are required to be part of the one loan agreement and must fulfil the general eligibility for artworks.
  • For the purposes of the COLLECT Art Purchase Scheme the arts business lay-by system cannot be used in conjunction with the loan.
  • An offer of a loan by Arts Tasmania is in no way an indicator of authenticity, value or merit of the work of art to be purchased. Customers must satisfy themselves as to the merit, value, investment opportunity and authenticity of any work of art purchased through the scheme.
  • In the event of loss, theft or damage of the artwork, Arts Tasmania takes no responsibility for the artwork.
  • Loan recipients may not export the artwork out of Australia while any part of the loan is outstanding without the written consent of Arts Tasmania.
  • Loan recipients must inform Arts Tasmania of any change of address whilst any part of the loan is outstanding.
  • The COLLECT Art Purchase Scheme is intended for Australian residents to purchase Tasmanian works of art for their own private and personal enjoyment, and not as a commercial undertaking or business activity. Loans are not available for international residents.
  • Any costs relating to packing and freight must not be included in the loan application request. If applicable, packing and freight costs must be paid by you directly to the arts business before the arts business will release the artwork to you.
  • If the work is part of an exhibition then the work may not be released to you until after the exhibition has closed.