In 2013 Colville Gallery established the Lloyd Rees Art Prize. This is a biannual independently judged, acquisitive prize that recognizes the Artist's legacy and contribution to Australian Landscape painting. The prize, AUD $20,000, is awarded to the best painting to demonstrate light in the landscape. This year, the position of judge has been graciously accepted by Janet Holmes à Court AC. Previous judges of the Lloyd Rees Art Prize have included Henrick Kolenburg - then Senior Curator Australian Art Works on Paper, Art Gallery NSW and Professor Sasha Grishin AM FAHA, leading Australian art historian and critic. The prize is acquisitive with winners presented to an Australian permanent public collection.