Foundation's paintings are rented out, trustee Mr. Tom Butterfield said this week.

"Any of the works that we have rented where the donor is aware of it, they've endorsed the idea 100 percent,'' Mr. Butterfield said. "They would like to see the Foundation a little more solvent.'' There were currently 20 works out on rental, he said. Businesses have shown the most interest in renting oil paintings and travel posters from Masterworks, which recently moved to Bermuda House Lane from its former headquarters on Front Street.

Rentals were generally on an annual basis, but could also be negotiated for shorter terms, he said.

Masterworks would not lend out watercolours, because they had to be specially protected from light and humidity. Nor would it rent out pieces of art worth more than about $6,000, he said.

Many art galleries raise extra revenues by renting out artwork that they own.

Masterworks also rents out works that it is entrusted with but does not own, Mr. Butterfield said.

The Foundation -- which has a mission to repatriate art by Bermudians or about Bermuda -- would not necessarily ask the owner before renting out a work it was entrusted with, he said.

Each work was insured by Masterworks, and also by the person who rented it, and was thereby doubly protected, he said.

"All it will take is one mean-spirited individual to swipe a work, and that will end it,'' Mr. Butterfield said of the rental programme. However, "I don't think that is too likely to happen.'' NEW GALLERY -- Masterworks has moved from Front Street to a new home on Bermuda House Lane. Pictured (from left to right) Lady Waddington, Masterworks' Ms Elise Outerbridge, Governor Lord Waddington, and gallery manager Mrs. Ingrid Lehner look over the new premises.