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The Acquisitions Award gives a UK institution £8000 to spend during the annual four day print fair, and applications for the prize opened earlier this week.

The award, launched in 2016, is sponsored by fine art insurance brokers Hallett Independent this year.

“We are thrilled to be supporting this important acquisition prize at a time when many museums are under a great deal of pressure,” said Clare Pardy of Hallett. “This award not only offers a great opportunity to acquire a print but also to develop relationships and forge links with dealers, curators and collectors through the London Original Print Fair.”

Last year the award went to The Atkinson, Southport. The interdisciplinary venue used the prize to purchase a portfolio of 12 etchings by Rachael Whiteread from the stand of Paragon Press and later used the works in the 2016 exhibition First Ladies: Pioneering Female Artists.

Applications for the prize are open until March 18.

The LOPF takes place in the Royal Academy and runs from May 4-7.