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Established in the 1970s the Art Bank buys art from notable Canadian artists through a system of peer review juries. The Bank continues to expand its collection, buying 52 works for 160,000 dollars in 2002 . The bank is completely self funded, earning its money from renting out works in it collection. The vast majority of its art is rented by the Federal Government , with less than ten percent being rented by the private sector. Works of art are rented out for two year periods, and the price is generally 20% of the piece's value for the rental. The Art Bank is located in Ottawa , Ontario , but it ships its work across the country. Its collection has been appraised to be worth over 60 million dollars. |
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