Photo: Polestar
Polestar started a unique initiative a while ago, and it involved offering to trade art for its halo car, the Polestar 1. Well, the Swedish premium brand announced it traded a car with an anonymous street art collector in Sweden.
Now, do not imagine that someone just walked into a showroom with art in hand and demanded a trade-in, as this was not the case. Instead, this was a transaction that was made after 500 submissions from artists and collectors, and Polestar was advised by Theodor Dalenson, who is a leader in his field.
The manufacturer had to choose the best between sculptures, prints, photography, paintings, and installations. The idea for the deal arrived within the company after realizing that the Polestar 1 will become collectible due to its limited availability. Moreover, the company also received interest from several artists and collectors, so someone joined the dots together to develop such an unusual proposal.
In a way, it can be seen as unusual, but since you can now buy a vehicle using bitcoin, bartering it with art might not be that unusual if you think about it.
We are going on a limb here, but it would not be unusual to learn that someone traded a vehicle for an NFT, as there have been other trades made before between private parties that involved barter instead of currency. Now, it is a deal between a collector and a manufacturer, which raises a bit more interest.
As Theodor Dalenson, a leading private art advisor, explained, "artists have always traded their art for other art, as well as for services or goods." He went on to ask, "why not cars?" Polestar was ahead of the game on this one and proposed the idea, completed the first deal, and surprised the art world with an interesting possibility.
It is not clear, at this point, if Polestar intends to make another trade of this kind in the future. Just one of the 1,500 Polestar 1 models made has been sold this way, and it was traded in March 2022.
The Art for Art initiative received submissions from June 10, 2021, to August 15, 2021. So yes, it takes a bit longer to have one of these deals arranged than getting a financing quote.
The new owner of the Polestar 1 noted that he "traded street art for street art," and we like his metaphor game, which is on point. The yet-to-be-named collector explained that he "will definitely drive the car, as it would have been more practical and easier to store the art instead of the car."
The new owner of the Art for Art Polestar 1 concluded that it is a special feeling to own something made in limited numbers, which means that he appreciated the exclusivity of the Polestar 1, if you ask us.
The manufacturer had to choose the best between sculptures, prints, photography, paintings, and installations. The idea for the deal arrived within the company after realizing that the Polestar 1 will become collectible due to its limited availability. Moreover, the company also received interest from several artists and collectors, so someone joined the dots together to develop such an unusual proposal.
In a way, it can be seen as unusual, but since you can now buy a vehicle using bitcoin, bartering it with art might not be that unusual if you think about it.
We are going on a limb here, but it would not be unusual to learn that someone traded a vehicle for an NFT, as there have been other trades made before between private parties that involved barter instead of currency. Now, it is a deal between a collector and a manufacturer, which raises a bit more interest.
As Theodor Dalenson, a leading private art advisor, explained, "artists have always traded their art for other art, as well as for services or goods." He went on to ask, "why not cars?" Polestar was ahead of the game on this one and proposed the idea, completed the first deal, and surprised the art world with an interesting possibility.
It is not clear, at this point, if Polestar intends to make another trade of this kind in the future. Just one of the 1,500 Polestar 1 models made has been sold this way, and it was traded in March 2022.
The Art for Art initiative received submissions from June 10, 2021, to August 15, 2021. So yes, it takes a bit longer to have one of these deals arranged than getting a financing quote.
The new owner of the Polestar 1 noted that he "traded street art for street art," and we like his metaphor game, which is on point. The yet-to-be-named collector explained that he "will definitely drive the car, as it would have been more practical and easier to store the art instead of the car."
The new owner of the Art for Art Polestar 1 concluded that it is a special feeling to own something made in limited numbers, which means that he appreciated the exclusivity of the Polestar 1, if you ask us.
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