Tv Set Design Standard Art Rental Fees One Week
Did you know that artwork can be rented for staging rather than simply sold?
By Daniel Grant
We've talked almost selling art, but it's also the case that art tin assist sell other things. Enter the world of art staging. Real estate developers, for case, ofttimes place works of art in the lobbies of the buildings in which they are looking to attract tenants. Interior designers hang paintings in the homes they are staging to concenter buyers. Corporations decorate their offices with artworks in order to improve employee morale and print clients. Advertising agencies and television and picture production companies strategically brandish artwork to brand a stage prepare seem more realistic.
All that art has to come up from somewhere, and in about instances information technology's rented. Sometimes the company rents the fine art directly from an artist. More than often, companies work through intermediaries that specialize in providing artwork that fits what a client is looking for.
Fine art Rental Intermediaries
Art for TV and Film
"We work with approximately 100 artists, but nosotros have access to a far larger network of artists that we call upon when there is a need for a certain type of work," says Jessica Heyman, founder and director of the Brooklyn, New York-based Fine art for Film, which helps moving-picture show and Boob tube production companies in New York City find the art they demand for shoots. She maintains an online portfolio that studios may peruse. "We have a much wider range of artwork than you'd find in any one gallery," Heyman says. "A motion picture crew may exist decorating a set up where the storyline takes place in the 1970s. We can find something that is advisable to that period of time, while a gallery of postwar or contemporary fine art may not have much of that."
Art for Existent Estate
Clients such every bit interior designers, existent manor developers, hospitals, and corporations frequently seek original fine art. Artemus, a Manhattan-based art financing and leasing visitor, regularly works with real manor developers who want center-catching works of art placed in their lobbies. The typical lease period is 5 years, with options to renew or to buy, and the cost of the lease is an annual 10 percent of the artwork's off-white market value, which is split between Artemus and the artist.
Cedric Autet, master operating officer of Artemus, noted that developers and building owners are focusing on the multi-meg construction taking place, and the last matter they consider is the art. "In some instances, they have already spent so much on the building that they don't accept the money to buy art," Autet says, then leasing artwork keeps their costs down. In that location also are revenue enhancement benefits to developers in leasing rather than buying art. They can deduct 50 to 80 percent of the annual costs equally property, plant, and equipment expenses.
Case Studies
Shawn McNulty, a painter in Minneapolis, Minnesota, works with a Minneapolis company called Art Force, which describes itself equally a "provider of artwork services" to corporate clients. McNulty's take is about five to 10 percent of the value of the work for a three-month period. "The company splits this corporeality 50/50 with the creative person and takes care of all the installation," McNulty says. "I typically get paid quarterly."
Some artists are happy to accept intendance of all the business aspects themselves, signing contracts with parties looking to lease and keeping all of the money. Susan Manders, a painter in Studio Metropolis, California, has both lease-to-purchase arrangements with individual collectors and straight leases with picture show product companies. Manders says that most lease-to-purchase situations boilerplate 9 to 12 months, while the leases to film studios average less than a calendar week.
Passive Income
For many artists, this is passive income. No one is getting rich; the rental range is between $200 and $x,000, and the boilerplate fee is $500. "Information technology'due south vacation money; information technology'south the rent on your studio," says Heyman. In addition to exposure for these artists, there have been some instances when renting their artwork leads to fine art sales. For example, Heyman adds, "when an role player or managing director wants to buy a piece of work later on the movie is wrapped."
The Risks
For Art for Movie, damage and theft are rarely issues since the original artwork itself rarely travels. The art exists as digital files sent by the artists, and these are enlarged and framed by the prepare designers. "Occasionally, a designer wants original art on the ready, but most don't want the added expense and the take a chance of harm," says Heyman. The contracts signed by flick product companies with Fine art for Film stipulate a one-fourth dimension utilise. The use may be for as little as ane day.
Manders adds that the "lessee is responsible for full purchase if paintings are damaged, lost, or stolen." Thefts in the art leasing field are rare, although damage sometimes takes place, oftentimes during transit. Autet noted that there was some damage to a Frank Stella sculpture shipped to an overseas client. Marina Kieser, possessor of the sales and rental art gallery in N Hollywood, California, Art Pic, claims that "we may accept a couple of incidents per year." In both cases, the contracts clarify that the customer is responsible for the payment of whatsoever restoration work.
Points to Ponder
In that location are benefits and drawbacks for artists when it comes to renting their creations. In the film and television world, artists have to accept that their work is in the background without any credit. But the pros of the art rental business appear to outweigh the cons. Amid the benefits: cyberbanking some additional passive income, potentially increasing your exposure every bit an artist, gaining a piddling actress space in your studio, and perhaps acquiring an anecdote or two.
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Source: https://www.artistsnetwork.com/art-business/a-peek-into-the-art-rental-business/
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