Acquisition Fund: An unrecognised treasure within the cultural policy of the Czech Republic

The paper elaborates on the Acquisition Fund for Contemporary Art established in 2017 in the Czech Republic by the Ministry of Culture. Paradoxically, this fund is perceived both positively and negatively by various institutions. On the positive side, from the year 2017 to 2019, the fund has allocated 41,257,888 CZK (1,517,753 EUR) for the purchase of 287 artworks by 29 institutions. On the negative side, only 29 out of 218 eligible institutions have applied for support from the fund during the three years of the fund's existence. This low application rate is attributed partly to the time consuming and complicated administration of the application for support, and partly to apprehension from some institutions regarding the likelihood of the actual realisation of the receipt of financial support. In turn, due to this low application rate, the institutions that have applied have had a high probability of receiving funding. The paper sheds new light on the lack of financing for acquisition in art institutions and opens the question of the effectiveness of the Acquisition Fund in the Czech Republic.