The award was established in 1984 by the Tate Gallery, now known as Tate Britain, in London. It is named after the 18th-century British painter J.M.W. Turner. The prize money is £40,000, of which £25,000 goes to the winning artist and £15,000 is divided among the other shortlisted artists.
The Turner Prize is open to British artists who are living and working in the United Kingdom. The exhibitions or presentations of their work that are considered for the prize can take any form, including painting, sculpture, photography, video, installation art, and performance art.
The Turner Prize is judged by a panel of experts in the field of contemporary art, which includes artists, curators, critics, and art historians. The panel considers a wide range of factors in their judging, including the originality, creativity, and significance of the artist's work, as well as its impact on the contemporary art scene.
The Turner Prize has a significant impact on contemporary art in the United Kingdom. It is a major platform for emerging artists to gain recognition and exposure. It also helps to generate public interest in contemporary art and to raise the profile of British artists.
Some notable winners of the Turner Prize include Gilbert and George (1986), Anish Kapoor (1991), Damien Hirst (1995), Rachel Whiteread (1993), Chris Ofili (1998), Steve McQueen (1999), Wolfgang Tillmans (2000), Tomma Abts (2006), and Martin Creed (2001).