Artist draws up contract for a share in success

A London artist is offering investors the chance to share in his future success for £1 — with the proviso they pay £2,000 now.

Tom Saunders, 23, who graduated from Camberwell College of Arts last year, is selling the opportunity to acquire pieces of his work in 10 years' time, with a view to using the initial payment to develop his career.

Two investors, including one collector who is said to be well-known, have reserved options, provided that they can meet Saunders, a conceptual artist, before making their payments.

East London company murmurART is showing his work in Hoxton Square and Ferguson Solicitors has drafted the "emerging artist derivative contract".