Each year, the Organizing Committee approaches at least a hundred enterprises registered in Hungary, and requests their help to build the collection. Businesses can undertake to provide support for up to five years, to the maximum amount of one million forint annually. These - tax deductible - contributions enable the Foundation to buy 100 works from 100 contemporary Hungarian artists every year.
What is to be bought is decided by a professional jury of acknowledged art historians. The Foundation presents the new acquisitions at a yearly display, which is accompanied by a catalogue. At the end of each exhibition, three participating artists are awarded a one million forint prize each, for study trips abroad, and 25 of the featured works are put on an auction whose proceeds are donated to charities. The 25 works to be auctioned off are chosen by a Charity Committee, and NGO’s can apply for support at an open competition. The Gábor Kovács Art Foundation itself places a bid on every work auctioned, thus ensuring that each is sold.
Budapest
-
