German cabinetmaker Ernst Gamperl is the recipient of the first-ever Loewe Craft Prize.

The prize, which was created earlier this year to recognize the work of artisans and craftspeople around the world, comes with a 50,000 euro prize. After receiving nearly 4,000 applicants, a committee of art and design professionals narrowed the field to 26 artists. Gamperl won the top prize for his carved wood vessels, while Japanese glass artist Yoshiaki Kojiro and Mexican basket-weaving company Artesanías Panikua shared the title of runner up.

Loewe’s creative director, Jonathan Anderson, was on hand to present the award in Madrid, and said:

“There are more exciting things going on in craft right now than in contemporary art.”

Work from the 26 finalists is featured in an exhibit currently on in Madrid, which will travel to New York on May 30.