The prize was spearheaded by the Set Design department of the University of Television and Film in Munich. Awarded since 1997 by a jury of representatives from the Association of Art & Costume Design, the Filmakademie Baden-Württemberg and the Film University Babelsberg KONRAD WOLF.
Since the year 2008, the prize is organized solely by the Association of Art & Costume Design and the Filmakademie Baden-Württemberg; since 2009, the prize was extended to include an award for Best Costume Design. Since 2010, additional support is made available by the Art Foundation of VG Bild-Kunst and Theaterkunst.
Since 2004, the prize consists of an official certificate and is called the Bild Kunst Award for Best Costume Design & Best Set Design and is (since 2010) endowed with 2,500 euros, respectively.