Five artists were nominated, and their work was exhibited at the Stedelijk Museum in Amsterdam.
The Vincent award, named for Dutch artist Vincent van Gogh, was aimed at stimulating European artists and building a discussion platform within Europe.
The art collection of Monique Zajfen constituted of the works by The Vincent Award winners and other contemporary artists.
Zaifen's collection was given to the Stedelijk Museum of Amsterdam on long-term loan.
The winner was decided by six jury members headed by the director of the Stedelijk Museum.