Zero Art Fair is an experimental way to match artworks that artists are currently storing with people who want to live with art but can’t necessarily afford it. Developed by artists Jennifer Dalton and William Powhida, the fair uses a ‘store-to-own’ contract to offer artworks free of charge, but with strings attached so the artists maintain a continued stake in the future value of the work.   

The contract includes a 5-year vesting period before ownership is automatically transferred to the new owner.  During that time, the contract grants the artist the right to sell the work, borrow the work for exhibition, or under certain conditions request the return of the work. It also grants the borrower a right of first refusal and a prorated discount on the retail price, if another collector expresses interest in buying the work.  After ownership is transferred, the contract grants the artist 50% of the sale price if the work is later sold, and a 10% royalty in perpetuity on subsequent resales. Originally developed for William Powhida by NYU Professor Amy Whitaker and artist and attorney Alfred Steiner, the contract is designed to allow artists to give their work away without letting go of its potential value.

If you’re a patron looking to help provide funds to make the fair happen again, please contribute here. If you’re interested in helping us out at the next edition of the fair, or if you have any other questions, please email us at zeroartfair@gmail.com.