An exciting, annual art competition with a $10,000 prize has been launched by international British businessman and Bermuda resident John Charman.

To be known as 'The Charman Prize', the competition will be open to all resident Bermudian artists, as well as non-Bermudians who have been resident on the Island for at least six months prior to the entry deadline. All entrants must be at least 18 years old on December 31, 2007.

Entries will be juried by a panel of local and overseas judges whose names will be announced at a later date, and artists whose work is short-listed will be exhibited in the new Rick Faries Gallery, thus providing an opportunity for their work to be showcased during the official opening of Bermuda's first purpose-build museum in the Botanical Gardens on March 1.

The late Mr. Faries was the chairman of Masterworks at the time of his death, and he also championed the Foundation's 'Artist up...Front Street' (now 'Artist in the Garden') programme. He was committed to developing diverse talents on the Island, and took a great deal of interest in watching them blossom — often digging into his own pocket and dedicating his time to ensure that such talent was nurtured.

Application information and entry forms will be available on website www.masterworksbermuda.com in due course. The deadline for returning completed application forms to Masterworks is Friday, January 11, 2008, while 4 p.m. on Friday, February 8, 2008 is the deadline for submitting entries to Masterworks.

Mr. Charman, president and CEO of Axis Capital Holdings, the third-largest insurance and reinsurance business on the Island, first began coming to Bermuda on business in 1981, and moved here six years ago. His keen interest in art, and ownership of a growing collection of original works, ultimately led to his friendship with Masterworks Foundation founder-director Tom Butterfield, and ultimately the art prize which bears his name.

"Bermuda is so rich in culture, and such a beautiful island that I immediately found myself aligned with Tom Butterfield, who is one of the greatest art enthusiasts I have had the honour of meeting and, even more so, of becoming a friend.

"I share Tom's vision for the Masterworks project, and while I have been gently and quietly becoming more involved with the Foundation as time progresses, I also wanted to try to properly honour local artists, and allow them to be recognised within the community. That is why I created the annual Charman Prize," the donor says.

"Masterworks is a wonderful gallery in which to showcase the magnificent achievements of local artists, and I hope my prize acts as a catalyst to encourage more artists to produce excellent works. I really believe there is some wonderful talent on the Island, both evolving and mature, and to me art is a great way in which people can express themselves."

Describing himself as "the worst 'artist' that ever was born", Mr. Charman says being "a complete failure" is no impediment to his admiration of artistically gifted, and he intends to do whatever he can to encourage them to share their gifts with the wider Bermuda population.

"I strongly believe in art in the community. Very often there are gifted young people who have not had an opportunity to show their work, let alone develop their skills, and I thought my prize would provide that encouragement.

"It is perfectly appropriate to be recognised, both formally and informally for good work. Art can change a person's life in the most wonderful way, through appreciation of, or by producing artwork. It doesn't matter if it is painting, glass blowing or sculpture — any form of art is a great expression of human life and human nature."

Certainly, the 35-year veteran of international business knows whereof he speaks, for his extensive travels throughout the world have not not only awakened him to the many beautiful manifestations of art to be found everywhere but also, since the 1980s, to a growing personal collection of original works.

Describing the latter as "ecletic", Mr. Charman says it includes everything from the Tang Dynasty to Andy Warhol, and is housed in his various homes.

"I am the worst collector in the world because everything I own is purchased not for its value but for its beauty, and I have never sold a piece of art in my life," he says.

Speaking on behalf of the Masterworks Foundation, a clearly-delighted Mr. Butterfield said the registered charity was very grateful for Mr. Charman's generosity.

"It is thrilling for us to be able to provide our local artists with such a platform to showcase their talents, and it is great that we can reward them. It is fitting that this show will be on display in the Rick Faries gallery too, as the spirit of this wing is really to nurture local talent, and we know Rick would be delighted with this recent development.

"As a homegrown institution, support from the local community is very important to us, and is the reason we are in this position of opening our new museum in two and a half months' time. John's donation will ensure that for years to come Masterworks will be able to showcase the talents of our very own artists for all to share, and reward them for their creativity. We are enormously grateful for his generosity, and are looking forward to his new addition to Bermuda's art calendar."

Full details on the requirements for submission of artwork will follow at a later date, but include:

• A non-refundable $20 application fee, payable to Masterworks.

• Completed/signed application form.

• Paintings, prints, sculpture, no film or video.

• One image per submission (either 35mm slide, jpg digital e-mailed, or disc) w/artists name, title, size, medium

• Oversized works generally not encouraged w/out prior consultation with Masterworks.

• All artwork short-listed for competition will be on sale in the Rick Faries gallery from February 29 to March 20, 2008.

The winner will be announced and the cheque presented at Masterworks on February 29, 2008.