COLLECT Art Purchase Scheme


Collect Art Purchase SchemeGallery Salamanca is an approved participant in the wonderful COLLECT Art Purchase Scheme which offers Australian residents twelve month interest-free loans to purchase artworks by contemporary Tasmanian artists. It is an initiative of Arts Tasmania through its industry development support program.

We love this scheme and so do our customers. It's quick and easy to apply for a loan:

  • Step 1. Select your artwork at Gallery Salamanca
  • Step 2. Check your Eligibility
  • Step 3. We'll then fill out a "Holding Form" which details the artwork you want to buy and reserve it for a set period of time while you fill out the Online Loan Application available on the COLLECT Art website
  • Step 3. Read the COLLECT Art Terms and Conditions
  • Step 4. Click on the Apply Now button on the COLLECT Art website to submit your loan application

If your application is approved, Arts Tasmania will email your loan agreement to you which you will then need to sign and return to them.

Once Arts Tasmania receives your signed loan agreement (which includes a direct debit authority), payment will be made direct to us and the artwork will be available for collection or shipped to you if you live interstate.

How GREAT is that?!

We've provided more detailed information below but please don't hesitate to Contact Us to learn more about this fantastic initiative.

FAQS
Who is eligible to apply?
All Australian residents can apply to the COLLECT Art Purchase Scheme. 

Can businesses apply?
No, businesses cannot buy artwork using the COLLECT Art Purchase Scheme. The Scheme is intended for the public to purchase artworks for their own private and personal enjoyment, not as a commercial undertaking or a business activity.

Can couples apply?
No, applications can only be lodged by one person. Joint applications cannot be accepted.

What if I live interstate?
Any Australian resident can apply for a COLLECT Art Purchase Scheme loan. If Gallery Salamanca filled in a "Holding Form" while you were present and verified your identity and proof of address, then all you need to do is submit your Online Loan Application via the COLLECT Arts website.
If you have returned home without Gallery Salamanca completing a "Holding Form" or are purchasing artwork from Gallery Salamanca's website, then you will need to send Arts Tasmania photo identification and proof of current address when completing your online application.
You may also need to pay freight costs in addition to the artwork. Freight costs cannot be included in the loan.

What artworks can I buy?
Sculpture, glasswork, ceramics, paintings, works-on-paper, photographs, furniture, textiles, jewellery, metalwork, woodwork, new media, limited edition prints … any artwork by a Tasmanian living artist from a participating arts business, such as Gallery Salamanca. It must, however, be the first sale of the artwork – i.e. it must not have been previously owned or sold.

How many artworks can I buy?
You can buy multiple artworks as long as they are all bought from the same arts business at the same time. You can detail up to four artworks on the loan application form. If you wish to buy more than four artworks, please contact Arts Tasmania on 03 6165 6666 during business hours.
The retail prices and the loan amount must meet the figures detailed in "How much can I borrow?"

Can I buy prints?
Yes, you can use the COLLECT Art Purchase Scheme to buy limited edition prints where the print run is less than, or equal to, 150 prints. You cannot use it to buy reproductions or posters.

Can I commission artworks?
Yes, you can but only through galleries, such as Gallery Salamanca, not arts businesses that make and sell only their own work.
To commission an artwork you must pay a 25 per cent deposit up front and then you may apply for a COLLECT loan to cover the balance. The minimum price of a commissioned artwork is $1,350 to qualify for a $1,000 loan.

How do I reserve the artwork? The "Holding Form"
You need to ensure that you have let Gallery Salamanca know that you want to buy the artwork and that you intend to apply for a COLLECT Art Purchase Scheme loan. Gallery Salamanca will then fill out a "Holding Form" which details the artwork you want to buy and reserves it for a set period of time while you fill out the Online Loan Application.
The "Holding Form" is normally completed while you are physically present in Gallery Salamanca so your photo ID and proof of address can be verified.

What if I am not at Gallery Salamanca when I decide to buy one of your artworks?
If you are not physically present at Gallery Salamnca when you decide to purchase an artwork, or it is an artwork you have seen on Gallery Salamanca's website, you can still apply for a loan. Firstly, you must contact Gallery Salamanca to let us know you wish to buy the artwork. We'll take your details and note the details of the artwork on the "Holding Form" which we will then send to Arts Tasmania. When you submit your application, you will need to include photo ID and proof of address.

How much can I borrow?
The minimum amount you can borrow is $1,000 and the maximum is $8,500.
The minimum retail price for an artwork able to be purchased using a COLLECT loan is $550, so you will need to buy at least two $550 artworks to be eligible for a $1,000 loan.
The maximum retail price for an artwork able to be purchased using a COLLECT loan is $11,500, so to buy an artwork retailing above $8,500, you will need to pay the balance as a deposit. For example, if you purchase an artwork retailing at $11,500, you may borrow up to $8,500 and will need to pay a deposit of $3,000, which is the difference between loan amount and the value of the artwork.

What does it cost?
There are no application or administrative fees. The only cost is the retail price of the artwork plus any freight costs you may incur.
If you miss payments, however, there will be additional costs.

When and how do I have to repay the loan?
The length of the loan is one year. Repayments are to be made each month in 12 equal instalments paid via direct debit. There are no penalties for early pay out of the loan.

What if I miss a repayment?
If your direct debit is declined by your bank, you'll be charged a $25 dishonour fee by Arts Tasmania in addition to any charges you may incur from you bank. The Arts Tasmania dishonour fee will be added to your next instalment.
If any payment is not made within five days of the due date, then you will need to repay the entire outstanding loan balance immediately and interest will be charged on any outstanding balance at the rate of 13 per cent per annum.

How many loans can I have at once?
You can only have one active loan at a time, although this one loan can cover a number of different artworks purchased at the same time from the same arts business. There are no penalties for early pay out of a loan if you would like to finish one loan in order to take out another.

What paperwork do I have to complete?
You will need to:

  • Sign the "Holding Form" at Gallery Salamanca, providing proof of identity and address OR if you were not physically present in Gallery Salamanca, ensure we have completed the "Holding Form" and that you provide the required proof of identity and address with your application
  • Complete and submit the Online Loan Application form. If successful in your application, sign the Loan Agreement including the Direct Debit Authority which Arts Tasmania will email to you.

How long does the whole process take?
It takes approximately 12 working days from the time you select an artwork and complete the "Holding Form" until the artwork is available for collection.

The "Holding Form" will detail the date by which you have to submit your application. Usually this is within two days of requesting the artwork to be reserved for you to buy.

Once Arts Tasmania receives your application, they will notify you by email within five business days to let you know if your application has been successful.

If your Loan is approved, you must sign and return the Loan Agreement including a Direct Debit Authority to Arts Tasmania within five business days of issue. You can do this by printing, signing, scanning and emailing them back to Arts Tasmania.

Once Arts Tasmania have received your signed Loan Agreement including the Direct Debit Authority, they advance the loan amount directly to Gallery Salamanca thus funding the purchase of the artwork. You can then collect your artwork from Gallery Salamanca, as long as there are no outstanding balances or freight charges owing. If residing interstate, your artwork will be shipped to you.

Who provides the loan?
The loan is provided by Arts Tasmania through the Tasmanian Government. Loans are subject to approval from Arts Tasmania.

Can I use Gallery Salamanca's lay-by system in conjunction with a COLLECT Art Purchase Scheme loan?
No, the cost of the artwork must be covered either entirely with the loan or a combination of a loan and an upfront cash payment made by you to Gallery Salamnca as a deposit or balance payment.

How long do I have to submit my loan application once I've agreed with Gallery Salamanca on which artwork I want?
On the "Holding Form", Gallery Salamanca will detail the dates that we are prepared to hold the artwork to enable you to get online and submit your loan application. We are only obliged to hold the artwork for two days. Occasionally, this may be extended – if you are travelling interstate, for example.
If you do not submit your loan application within the agreed holding period, Gallery Salamanca is no longer obliged to reserve the artwork for you and may sell it to another customer. If this happens, we must refund any holding deposit you may have paid.

Does Arts Tasmania conduct a search on my credit history?
Yes, the Business, Finance and Compliance unit of the Department of State Growth conducts a credit check when Arts Tasmania receives your loan application.

How long does my application take to process?
Once received, it takes five business days to process your application. If your application is approved, you then have a further five days to sign and return your Loan Agreement including the Direct Debit Authority. Once you have sent back your signed documents and Gallery Salamanca has been paid, the artwork will be released to you.

What notification will I receive?
Once you submit your application via the COLLECT Art website, you will see a confirmation screen appear. This confirmation will also include the details you have submitted in your application. If you wish to keep a record of your application you should print that screen before you close it. You will also receive an email at the email address provided in your application confirming receipt of your application. Arts Tasmania will then notify you by email of the outcome of your application within five working days of receipt of your application. They will also email you the loan documents if your application is successful. When your loan has been repaid, you will receive confirmation of this from the Department of State Growth.

What if my loan application is not successful?
If your loan application is unsuccessful, Arts Tasmania will notify you by email as noted above. They will also notify Gallery Salamanca. If you still wish to purchase the artwork, you should get in touch with us as soon as possible as we will no longer be obliged to hold the artwork once we're notified. Rest assured, there are other options available to you through Gallery Salamanca to purchase the artwork in the unlikely event your loan application is unsuccessful.

If you paid a holding deposit to Gallery Salamanca, then you should Contact Us to arrange for its return.

What are the Terms and Conditions of a loan?
The Terms and Conditions of the loan are detailed here. You must read and accept the Terms and Conditions before lodging your application via the COLLECT Art website.