Foundation has found a new home.

But the collection of more than $1 million worth of Bermudiana will still have to be locked away from public view for just over a month.

Gosling Bros. Ltd. has offered the gallery ground-floor space just off Front Street on Bermuda House Lane. And Masterworks -- which has a mission to repatriate art about Bermuda or by Bermudians -- will only have to pay the liquor merchant $100 a month to cover property taxes, Gosling's president Mrs.

Nancy Gosling said yesterday.

The 703-square-foot shop, directly behind one of Gosling's two Front Street shops, is now occupied by Cotton Ginny. The women's clothing store is expanding and relocating at the end of September.

Donating the space was "a way to make a meaningful contribution to the arts,'' Mrs. Gosling said.

The Masterworks Foundation was particularly worthwhile, she said. "It's different from just an art gallery,'' because it was bringing Bermudian treasures home.

"It's good for them to be in a visible spot for the tourists,'' Mrs. Gosling said. "I think that really helps.'' Masterworks trustee Mr. Tom Butterfield said he was overwhelmed by the offers the foundation received after its plight became known. Masterworks has to leave its $1-a-year space above The Treasure Chest by the end of this month, because the owner needs the space for another purpose.

The support shown "was very reassuring,'' he said.

The potential for gallery sales was a key factor in opting for the Cotton Ginny site, he said. The site would also allow for more imaginative signage, he said.

The month-long gap between when Masterworks leaves its present space and takes possession of the Gosling's site means the collection has to be locked up for about six weeks. An office had been provided by Conyers, Dill and Pearman, Mr.

Butterfield said.

Twelve volunteers have already chipped in and donated the first year's rent for the new site, he added. "That's the kind of spirit that allows us to exist.'' In addition to the move along Front Street, Masterworks must vacate its small wing at City Hall in October to make way for a large exhibition of African art.