LONDON — A new contemporary art prize worth £200,000 has been launched in the United Kingdom, becoming the most valuable award of its kind in the country. Established by the Serpentine Gallery in partnership with the FLAG Art Foundation, the prize will be awarded every two years to a single artist working in any medium.
According to the institutions involved, the award aims to provide significant financial support for artists at a critical point in their careers. The selected artist will receive both the monetary prize and a major exhibition at the Serpentine, positioning the initiative among the most influential contemporary art programs in Europe.
The organisers describe the prize as an effort to strengthen long-term artistic production and to highlight practices that contribute meaningfully to contemporary culture. The selection process will involve an international jury, with further details to be announced in the coming months.
With its scale and visibility, the new award is expected to play a substantial role in shaping the UK’s contemporary art landscape.
By Daniel Harris — Art Market Editor
