Polestar 1 is the first car that can be bought with art

Polestar 1 is the first car that can be bought with art

Artists and art collectors are now able to buy a Polestar 1 with art. Swedish automaker Polestar is known for exploring new ways of operating in the car industry. The brand now introduces an additional way of buying its halo electric performance hybrid before it reaches end of production later this year. Prospective buyers will be offered the opportunity to pay for the EUR 155,000 vehicle by trading art they already own.

 

Thomas Ingenlath, CEO of Polestar, says: “I love the idea of letting artists and collectors buy a Polestar 1 with art, it is such a special car and we wanted to find a unique way of celebrating it before its production reaches an end. It is hand-made, precious and tangible, much like a piece of art.”

 

Polestar’s initiative comes amidst a recent art boom with new ways of trading art emerging, from non-fungible tokens (NFTs) to a pair of Kanye West-designed shoes selling for $1.8 million at a recent auction, as well as auction prices for classic and contemporary art recently soaring.

 

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“Historically, many significant art transactions have taken place outside of what we today associate with the art market,” says Theodor Dalenson, a leading private art advisor who serves as Polestar’s advisor on this initiative.

 

“Going back several hundred years in time, art trading mainly took place between artists and patrons. Painters like Picasso were known to trade sketches for restaurant meals. Polestar’s initiative is essentially a very natural extension of the tradition of art being used as payment for precious goods.”

 

Polestar 1 is the first car that can be bought with art

 

Dalenson has been involved in the art world as a benefactor and has been a board member of institutions such as Moderna Museet in Stockholm, Perez Miami Art Museum, Guggenheim Museum and Foundation, Aspen Art Museum and Americans for the Arts.

 

Polestar will consider all forms of art, including paintings, sculptures, photography, installations and more. Incoming proposals will be reviewed by Dalenson, and if deemed relevant, receive a valuation estimate by the two largest auction houses: Sotheby’s and Philips. It is Polestar’s intention to, after a period of ownership, sell the art, either via the above auction houses or through the dealers that represent the artists.

 

The scheme begins on 10th June 2021 and will run until 15th August 2021 in Europe and North America and submissions can be made at www.polestar.com/art/

 

In April 2021, a special edition Polestar 1 was revealed at the Shanghai auto show, featuring a bespoke matte gold exterior paint job with matching brake callipers and black wheels. Inside, colour-matched gold stitching gives the interior an even more unique feel. A maximum of 25 will be built and a handful will be eligible for the initiative.

 

Polestar 1 is the first car that can be bought with art

 

 

About Polestar 1

Polestar 1 is a low volume, handmade electric performance hybrid, built in Polestar’s state of the art factory in Chengdu. The stunning factory was designed by Norwegian architect firm Snøhetta and is the only car factory in China to have received a Gold LEED rating. By the end of the year, the production of the car will come to an end, leaving a limited edition, collector’s item legacy.

 

A technical tour de force, the electric performance hybrid has a light-weight body made from carbon fibre reinforced polymer, twin rear electric motors with genuine torque vectoring and high-performance components like Akebono brakes and adjustable Öhlins dampers.

 

With a combined power output of 609 hp and 1,000 Nm of torque, and a purely electric driving range of 124 km (WLTP) – still the longest of any hybrid car in the world – Polestar 1 is a performance car that can be driven as a full EV in daily use, doubling as a great long-distance GT at any moment.

 

About Polestar

Polestar is the independent Swedish premium electric performance car brand founded by Volvo Cars and Geely Holding. Established in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. The company is headquartered in Gothenburg, Sweden, and its vehicles are available and on the road in ten global markets across Europe and North America, and in China. In 2021, Polestar is expanding into eight new markets across Europe and Asia Pacific.

 

Polestar produces two electric performance cars. The Polestar 1 is a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world. The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single motor powertrains with as much as 300 kW / 408 hp and 660 Nm.

 

In the future, the Polestar 3 electric performance SUV will join the portfolio, as well as the Precept – a design study vehicle released in 2020 that is slated for future production. Precept showcases the brand’s future vision in terms of sustainability, digital technology and design.

 

About Theodor Dalenson

Theodor Dalenson is a private art advisor who specialises in modern and contemporary art, and mid-century design. Dalenson has been involved in the art world as a benefactor and, in many cases, board member of institutions such as Moderna Museet in Stockholm, Perez Miami Art Museum, Guggenheim Museum and Foundation, Aspen Art Museum and Americans for the Arts.

 

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