Artists and art collectors are now able to buy a Polestar 1 with art. The Swedish automaker Polestar has introduced an additional way of buying its halo electric performance hybrid before it reaches end of production later this year.
Prospective buyers will be offered the opportunity to pay for the EUR 155,000 vehicle by trading art they already own. The initiative comes amidst a recent art boom with new ways of trading art emerging, including non-fungible tokens (NFTs).
Polestar will consider all forms of art, including paintings, sculptures, photography, installations and more. Incoming proposals will be reviewed by Dalenson, and if deemed relevant, receive a valuation estimate by the two largest auction houses: Sotheby’s and Philips.
The scheme begins on 10 June 2021 and will run until 15 August 2021 in Europe and North America ,and submissions can be made at polestar.com/art/.
Thomas Ingenlath, CEO of Polestar, says: “I love the idea of letting artists and collectors buy a Polestar 1 with art – it is such a special car and we wanted to find a unique way of celebrating it before its production reaches an end. It is hand-made, precious and tangible, much like a piece of art.”
Theodor Dalenson, a leading private art advisor who serves as Polestar’s advisor on this initiative, adds: “Historically, many significant art transactions have taken place outside of what we today associate with the art market. Going back several hundred years in time, art trading mainly took place between artists and patrons. Painters like Picasso were known to trade sketches for restaurant meals. Polestar’s initiative is essentially a very natural extension of the tradition of art being used as payment for precious goods.”
Established in 2017, Polestar is the independent Swedish premium electric performance car brand founded by Volvo Cars and Geely Holding.