The 1822 Art Prize has been awarded by the Frankfurter Sparkasse since 1972. In the beginning it was held as an entry competition, since 1980 is has been supplemented by the award of oeuvre prizes in four-year rhythm. The 1822 Foundation has subsidized the € 15,000 Prize for four years. It is the only prize in Frankfurt am Main awarded annually in the field of fine arts. It honours the work of an artist whose life and work is linked with the Frankfurt region and is hallmarked by quality and future perspectives. The term "work", however, should not only be understood in retrospective: in its decision the jury also takes into account that the Prize should be motivation for artistic further development.
Application is not possible for the 1822 Art Prize. Proposals for prizewinners are submitted by the circle of jurors, who propose or introduce a candidate in a jury session. A discussion and secret ballot then culminate in the final decision. In addition to the Board Chairman of the 1822 Foundation, Klaus Wächter, the jury is also made up of the directors of various Frankfurt art institutions, the two colleges in Frankfurt and Offenbach and culture journalists from the three major Frankfurt newspapers.