Working with Our Art Advisory: A Guide to Leasing Fine Art
As an art advisory, we offer valuable services to businesses to assist them with leasing fine art, whether it’s a single piece or a complete art collection.
Art is a superlative way to add character and finesse to your business, but acquiring original artwork can be an expensive proposition. Leasing art is a discerning way to experience the exclusivity of exceptional artwork without incurring an onerous long-term commitment or a hefty initial investment. In this article, we shall investigate the process of leasing art for your business, including estimated prices for contemporary, modern, and masterpieces, rental terms, pricing, tax incentives in Europe and the United States, and how to purchase art after the leasing period.
Our comprehensive and personalized approach to art selection sets us apart as we take the time to understand each client’s unique vision and objectives, ensuring that our art leasing recommendations are tailored to their needs. Our foundational belief is art is not an afterthought – it’s an intrinsic part of how a space looks and feels.
Our strong working relationships with artists and galleries provides our clients with direct access to the most relevant and sought after art available in the current market.
When deliberating on leasing art, it is imperative to understand the estimated prices for the different art periods. Contemporary art is usually the most accessible, with prices ranging from a $3,500 – $25,000. Modern art is more luxurious, with prices ranging from $25,000 to $100,000 or more. Masterpieces are the most opulent, with prices ranging from $1 million to $100 million or more.
When leasing art, you will typically pay a monthly fee based on the value of the artwork. The rental term can vary depending on your preferences, ranging from a few months to several years. The longer the rental period, the lower the monthly fee may be. The fee usually encompasses insurance to safeguard the artwork during the rental period.
In Europe, businesses can receive distinguished tax incentives for leasing art as part of their corporate social responsibility endeavours. These incentives include tax deductions for the cost of leasing art and tax credits for the donation of art to museums and cultural institutions.
In the United States, businesses can also receive prestigious tax incentives for leasing art. The IRS allows businesses to deduct the full cost of leasing art as a business expense. Additionally, businesses can donate art to museums and receive tax deductions for the fair market value of the artwork.
Leasing art is an outstanding way to augment the appearance and ambience of your business without committing to a protracted period or substantial initial expense.
If you decide to purchase the artwork after the leasing period, you may have the opportunity to do so at a reduced price. This can be a superb way to acquire artwork that you have come to cherish and that complements your business. Alternatively, you may return the artwork at the end of the leasing period and select another artwork to lease.
Leasing art is an outstanding way to augment the appearance and ambience of your business without committing to a protracted period or substantial initial expense. With estimated prices for contemporary, modern, and masterpiece art periods, rental terms and pricing, tax incentives in Europe and the United States, and the option to purchase art after the leasing period, you have all the information you need to make an erudite and refined decision about leasing art for your business.
Our Leasing Art Services for Businesses include:
- Art Advice
- Curated Presentations for Artwork Selections
- Leasing Paintings & Sculptures from Artists & Galleries
- Turn-key Delivery & Installation Worldwide
- Advisory Fees are Monthly Flat-Rate or Commissioned Based
Written by Lo Sampadian
