The New York Times-20080127-Your Money Or Your Masterpiece

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Your Money Or Your Masterpiece

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THE people behind Pawnshop, an art project on Ludlow Street that functions just as the name would suggest (though with art, as opposed to firearms), may be the first to see the poetry of the short-term loan business. There's a moment of suspense, where an object could be sold, but also taken back, said Anton Vidokle, one of the founders. It's almost like a dance.

The space (right), done up with pegboard walls and fluorescent-lighted display cases to resemble America's seedier pawn operations, sells work from about 100 artists. Some artists have walked in off the street; others like Aleksandra Mir, Miguel Calderon and Gardar Eide Einarsson have international followings. One even has a retrospective at the Whitney: not surprisingly, Lawrence Weiner's life preserver, priced at market value, has been sold.

Open through February, Pawnshop will then travel to the Boijmans Van Beuningen museum in Rotterdam. For us, there's a perverse pleasure in turning the museum curators into pawnbrokers, Mr. Vidokle joked.

Pawnshop, 55 Ludlow Street (between Grand and

Hester Streets); (212) 619-3356.

[Illustration]PHOTO (PHOTOGRAPHS BY CARLOS MOTTA)