J&T Bank Turns Over Its Private Collection of Contemporary Art to the National Gallery Prague

Prague, 9 December 2024 – J&T Bank is the first private company in the Czech Republic to turn over its art collection to a public institution. The Magnus Art collection includes works by 28 laureates of the Jindřich Chalupecký Award, which has been presented annually to young Czech artists since 1990. The public will have the chance to discover portions of the collection gradually, starting next year.

The Magnus Art collection was built up gradually, starting in 2014, with the Jindřich Chalupecký Award (CJCH) being the guiding principle for new acquisitions. The prize honours young artists annually for their innovative approaches to art. The collection features works by CJCH laureates from the early 1990s until 2018, including works by Jiří Černický, Lukáš Rittstein, Eva Koťátková, Martin Kohout, and Kateřina Šedá. This valuable collection has now been entrusted to the National Gallery Prague.

“Corporate patronage in the field of art is not common in our country. Individuals rather than companies usually donate their collections to galleries. As for us, we have always been pioneers, and so we hope that we will inspire other private companies to follow us. This is another way in which the private sector can support Czech culture,” says Štěpán Ašer, CEO of J&T Bank, who was present at the inception of the Magnus Art collection.

The story does not end here, however. “We greatly appreciate this generous gift and the opportunity to take over the collection. The works from the Magnus Art collection are an important in that they represent the of the last thirty years, which is most missing from the NGP collection. Moreover, these are top quality works that do justice to their creators,” says Alicja Knast, General Director of the National Gallery Prague. She also announced that some of these newly acquired works will be presented to the public at the Trade Fair Palace next autumn, within the permanent exhibition 1939–2021: The End of the Black-and-White Era. Starting in September 2025, an exhibition of works by the newly announced winners of the Jindřich Chalupecký Award will be held at the Trade Fair Palace as well.

According to an expert’s report, the current value of the collection is CZK 17,860,000, while the total purchase price of the works was CZK 11,762,455. “The Magnus Art collection was never intended as an investment collection. We have always known that its value lies primarily in its compactness and its capacity to illustrate the development of young Czech art at a crucial period for our culture and society. The fact that its financial value has increased significantly only proves the enormous potential of young Czech art,” explains Valérie Horváth, art specialist at J&T Bank, adding that Czech art deserves the attention of the general public and investors alike.

Michal Novotný, Director of the Collection of Art After 1945 at the NGP, states: “The collection is a coherent body of works which illustrates the transformation of Czech art between 1990 and 2018 very well. The Jindřich Chalupecký Award and the exhibitions of its laureates have played a pivotal role in discussions about the nature of contemporary art in the Czech Republic. Furthermore, the collection is complemented by several key artists, such as David Černý and Tomáš Vaněk, who had not previously been represented in the NGP’s collections.”

J&T Bank assembled its own collection of contemporary art consisting of works by 28 Jindřich Chalupecký Award laureates from 1990 to 2018. It contains more than 30 works or series demonstrating the development of young post-revolution art over the years.

For more information about the Magnus Art collection, please visit: https://magnusart.cz/

The Jindřich Chalupecký Award was established in 1990 on the initiative of Václav Havel, Jiří Kolář, and Theodor Pištěk. It is named after the prominent Czech art theoretician and critic Jindřich Chalupecký (1910–1990). It is intended for emerging artists active in the Czech Republic who bring innovative approaches and contribute to the development of contemporary art. The award also commemorates Chalupecký’s lifelong effort to promote non-conformist art in Czechia and to maintain continuity with the European art scene.

The National Gallery Prague (NGP) is the oldest cultural institution with the largest art collection in the Czech Republic, managing over 400,000 works and seven impressive historic buildings. The NGP has a team of more than 200 employees with unique expertise. The history of the NGP dates back to the early 17th century, to the court of Emperor Rudolf II. The current name of the gallery was adopted after the Second World War. Last year, the NGP was visited by over 430,000 guests. In addition to short-term displays, the NGP is also home to seven permanent exhibitions in the Convent of St. Agnes of Bohemia, the Sternberg and Schwarzenberg Palaces, and the Trade Fair Palace. Some of the works from the Magnus Art collection will be gradually incorporated into the contemporary art show 1939–2021: The End of the Black-and-White Era, located on the 2nd floor of the Trade Fair Palace.

More information can be found on the ngprague.cz website.