...About 50 works by around 40 art students and recent graduates had been selected via an open competition and then purchased for ¥100,000 a piece by Mitsubishi. After being displayed at the company's offices in Marunouchi (japan) for a few of months, they were being auctioned. "The first ¥100,000 raised by each work will go to a scholarship fund, which will be made available to young artists. If the hammer price goes above that, the proceeds will be split — half to the artist and half to the scholarship," explained Shinji Shimada...japantimes
10.29.2008
in other news
...About 50 works by around 40 art students and recent graduates had been selected via an open competition and then purchased for ¥100,000 a piece by Mitsubishi. After being displayed at the company's offices in Marunouchi (japan) for a few of months, they were being auctioned. "The first ¥100,000 raised by each work will go to a scholarship fund, which will be made available to young artists. If the hammer price goes above that, the proceeds will be split — half to the artist and half to the scholarship," explained Shinji Shimada...japantimes
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