The Art Buy

The Mondriaan Fund has received notice from Santander Consumer Finance that they are terminating the cooperation regarding the KunstKoop as of January 1, 2024. Existing loans will continue.

So that’s unfortunate news.
So for the time being, you won’t be able to take advantage of this wonderful scheme to borrow to purchase a work of art and pay it off in installments.
The Mondriaan Fund will be looking for a good alternative in the near future to continue to stimulate the sale of art in the Netherlands.
More information at mondriaanfonds.nl

The information below is outdated/not current, we will update it as soon as there is a new party that can take care of implementing the Art Buy.
There are other ways to pay in installments at We Like Art.
Please inquire about the possibilities.

 

The benefits of the Art Purchase:

  • Your new acquisition immediately in your home;
  • You pay in manageable monthly installments;
  • Gallery and artist are paid immediately;
  • Without interest, which the Mondrian Fund pays.

 

Can I use the Art Purchase at We Like Art?

Yes, the minimum loan amount is 250 euros.
That means that almost all the works you see on our website are for sale with the KunstKoop.

What are the conditions?

  • The minimum loan amount is 250 euros.
    The maximum loan amount is 7,500 euros.
  • No down payment needs to be made by the buyer at the conclusion of the purchase agreement (but it can be done).
    The entire purchase amount can be financed with an Art Purchase Loan, provided it does not exceed the than maximum loan amount.
  • The minimum loan term is 6 months.
    The other loan terms are: 12 months, 24 months and 36 months.
  • An KunstKooplening can be applied for by buyers living in the Netherlands between the ages of 18 and 74.
    The loan must be repaid before the age of 76.

 

Popel Coumou, photo: Caroline Coehorst

 

How does the KunstKoop work?

Step 1: You decide to buy a work of art from a gallery affiliated with the Art Purchase and indicate that you want to use the Art Purchase Loan Step 2: The gallery fills in a few details about the purchase for you to start the Art Purchase Loan with Santander. To complete the application process, you will then receive an email from Santander. You can complete this on your own and upload the requested documents.* Step 3: If the application is approved, Santander pays the loan amount to the gallery after which the gallery pays the portion to the artist. And you repay it in installments. The Mondrian Fund pays the interest on your loan to Santander so you have no additional costs. *Because the Art Purchase is a loan, documents are required from you to check and prove your identity and your income & expenses.
Here you will find a checklist of all the documents Santander asks for when you go to apply for an Art Purchase Loan.
The application for an Art Purchase Loan must also be signed using the online identification tool iDIN.
iDIN is offered by ABN AMRO, ING, Rabobank, SNS, ASN Bank, RegioBank and Bunq.
Individuals who do internet banking with these banks can use iDIN directly.
Triodos Bank will no longer offer the online identifier iDIN as of June 1, 2021.

 

Theo Jansen, photo: Caroline Coehorst

Is there a catch?
Who actually benefits from this?

The KunstKoop is a so-called idealistic scheme: the Mondriaan Fund wants to stimulate the private market for visual art and design.
The Fund: “A flourishing art market is a source of income for artists and testifies to the commitment of individuals and society to visual art. To stimulate the private market for high quality art in the Netherlands, there is the Mondriaan Fund’s KunstKoop. Since 1997, more than 150,000 buyers have made use of the KunstKoop and bought over 166 million euros worth of art works.”
So no snags; research shows sheer salubrity:

  • hundreds of artists benefit from this scheme every year,
  • half of the buyers would not have been able to buy the artwork without ArtKoop, and
  • four in 10 buyers use the ArtKoop to purchase an additional work of art.

 

Berndnaut Smilde, photo Caroline Coehorst

What amount do I pay monthly for the ArtKoop?

You can do so for as little as the price of a sports or phone subscription.
Calculate here what an Art Purchase Loan will cost you per month.

Where can I review all the information about the Art Buy?

Visit www.kunstkoop.nl or look here for the fine print.
Or check out Santander’s checklist.

I would like to know exactly how it all works when I purchase a work through We Like Art.

Email us your question and we’ll give you a quick answer: link