street.

The Masterworks Foundation, home to more than $1 million in artwork by these and other listed artists, must leave its office and gallery on Front Street by the end of August.

The search for a new home continues, but "we're no further ahead,'' Masterworks trustee Mr. Tom Butterfield said yesterday.

"We have 125 pieces of art of great value that we have to protect.'' The space above the Treasure Chest is needed by the owners, and the registered charity has lost its $1-a-year rent there.

Last year, the cash-strapped foundation earned more than $45,000 in sales from the Front Street gallery. For that reason, a new site in a high-traffic area of Hamilton is important.

Masterworks -- which has its complete collection on view at City Hall until September 4 -- has a second problem which compounds the first.

The National Gallery has asked it to temporarily vacate its small wing in City Hall to make way for a large exhibition of African art in October.

Storage space will be needed.

"The worst case scenario, if we did not come up with a place ... we would have to put the collection away completely and resurface in January when the African art show comes out,'' Mr. Butterfield told The Royal Gazette .

A new gallery did not have to be on Front Street, but access from the street, rather than an interior elevator, was needed. A 600- to 1,000-square-foot area that included room for storage would be ideal.

So far, "we've had no offers of direct corporate sponsorship,'' he said.

Since market rents would be in the $40,000 to $50,000 range, "some form of it would be very important to us.'' He asked commercial tenants in Hamilton "to think generously and philanthropically about us and keep the foundation in the forefront of the public view.

"The public is very interested in our collection both here and abroad.'' With a mission to repatriate art about Bermuda or by Bermudians, Masterworks is six years old. The present Front Street gallery is about 400 square feet, with a 120-square-foot storage area, Mr. Butterfield said.