in 2016, a new national $100,000 acquisitive art prize for artists, open to australian artists under 40 working in any medium, was announced by the premier of south australia, jay weatherill. supported by the james & diana ramsay foundation, it is the country's richest art prize, awarded biennially. chosen by an international judging panel, all finalists are exhibited in a major exhibition over the winter months at the gallery. there is also a non-acquisitive lipman karas people’s choice prize based on public vote, worth $15,000.