The annual prize of $10,000 (funded by the ROI apartment owners) is now a recognised and valued prize. Artworks in the media of painting, limited edition printmaking, photography and drawing, and created within two years of the closing date, are eligible. Up until 2016 the ROI Art Prize was open to artists living in, or with studios or galleries within the City of Yarra. In 2017 this will be extended to include adjoining municipalities.
The ROI Art Prize attracts established as well as emerging contemporary artists. There is an impressive list of winners who have exhibited in curated exhibitions, been the recipients of artists’ residencies and prizes and are represented in private and public state and national collections.