Their goal was to "support, promote and expose contemporary New Zealand art and artists".
Awards were made for contemporary painting, sculpture and photography and were run by the James Wallace Charitable Arts Trust.
[5] The New Zealand Herald described the list of award recipients as "an arts world who's who".
[5][6] The 2018 awards were presented by the Rt Hon Dame Patsy Reddy at the Pah Homestead, Auckland on 3 September 2018.
[9][10] The awards were cancelled in 2021, with the James Wallace Charitable Arts Trust announcing that it was "refreshing" its strategic plan.