Works of art

 

 

Fondation de Luxembourg may receive works of art in the form of gifts, donations and bequests.

 

These works of art should however be of high quality and renowned in order to be exhibited in a museum where it may engage the general public’s interest from a historical or aesthetic view.

 

An Art Expert Committee will be put in place to examine each gift, donation or bequest proposal. This Art Expert Committee will decide whether or not to accept a work of art. Fondation de Luxembourg will trust the final decision formulated by the Committee.

 

Why create an art foundation?

 

The establishment of an Art Foundation contributes to: 

 

  • Ensuring the safe-keeping of a work of art or of an art collection
  • Preserving a work of art or an art collection intact
  • Making an art collection accessible to the public through exhibitions, by means of museums, etc

 

 

Constitution of a Sheltered Foundation

 

A donor can establish an Art Foundation under the aegis of Fondation de Luxembourg and transmit works of art in the form of gifts, donations or bequests.

 

The objective of an Art Foundation is to ensure the preservation of the work of art and to express the founder’s individual wishes. Each Art Foundation is managed by a Management Committee where the founder or his/her representative is a member. The Management Committee is responsible for the management of the Art Foundation. It initiates and oversees the successful execution of the activities. It also controls all aspects related to its administration. Solely the Management Committee of the Art Foundation in question is authorised to instruct the Fondation de Luxembourg to sell or to acquire a piece of art for that foundation.

 

When the Art Expert Committee has approved a work of art, Fondation de Luxembourg ensures that a wide audience can enjoy it. In order to achieve this, the Management Committee chooses the most appropriate place for a short or long term loan for use of the artwork. The work or art is displayed in the most appropriate location or alternatively the venue with which it already has close links.

 

An Art Foundation sheltered under the aegis of the Fondation de Luxembourg must be accompanied by a sufficiently large capital to enable it to support the preservation costs and the use of the works presented. These fees cover insurance, warehouse, transportation and hanging when displaying the work of art.

 

The annual management fee will be calculated based on the amount of the capital of the Art Foundation.

 

                      "Habillage", © Claudie Poinsard

 

                       "Le voile levé", © Claudie Poinsard

             

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