  Given an algebraic torus action on a normal projective variety with finitely
generated total coordinate ring, we study the GIT-equivalence for not
necessarily ample linearized divisors, and we provide a combinatorial
description of the partially ordered set of GIT-equivalence classes. As an
application, we extend in the $\QQ$-factorial case a basic feature of the
collection of ample GIT-classes to the partially ordered collection of maximal
subsets with a quasiprojective quotient: for any two members there is at most
one minimal member comprising both of them. Moreover, we demonstrate in an
example, how our theory can be applied for a systematic treatment of ``exotic
projective orbit spaces'', i.e., projective geometric quotients that do not
arise from any linearized ample divisor.
