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FAQs and FGAsIn the following FAQs & FGAs - Frequently asked questions and frequently given answers - regarding the rental of art work: I would like to rent art work...
The rental process - how does that work?
I am an artist, I am a consultant...
Even more questions and information...
I would like to rent art work...How should I choose the art work I want to rent? What else should I consider?If you are interested in renting art work then you might want to visit the web sites of artists listed in the Participating Artists section, maybe you will find work you like. For companies it is sometimes interesting to give a voice to their staff: employees that are allowed to choose the artwork displayed in their immediate working environment will be more motivated and the overall social atmosphere will be improved.More questions to ask before contacting an artist:
A little advice: why don't you look up artists in your immediate neighborhood first - geographic proximity makes personal contacts and transportation much easier. 
|
| Rent price/year: | Rent price/month (plus VAT): |
|
| Renting period 3 - 6 months | 20 % of value/year | 16,67 Euro |
| Renting period over 6 months | 15 % of value/year | 12,50 Euro |
| Renting period over12 months | 10 % of value/year | 8,33 Euro |
| Rent price/year | Rent price/month (plus VAT): |
|
| Renting period over 6 months | 10 % of value/year | 8,33 Euro |
| Renting period over12 months | 5 % of value/year | 4,17 Euro |
Oh yes: VAT… How about value added
tax?
Renting may be subject to value added taxes. As regulations differ from country to country, please check with your local authorities.
What happens if the renter decides
to keep a work longer as originally stipulated?
As long as the artist does not have any binding contract with
a third party regarding the piece of art in question (such as:
a new renting contract with someone else), in most cases it should
be possible to extend the contract. One possibility is to just
prolong the existing contract, another option is to sign a new
one. In any case: it is not possible to lower the rent price retroactively.
Example:
Individual
A rents a work of art of artist B; the work has a commercial value
of 1000 Euro. The renting period is 6 months, January to June.The
renting price is (see: How to calculate
the price for renting art work?: up to 6 months 10 % of the
commercial value per year) for 6 months is 50 Euro (1000*0,10/12*6)
After termination of the renting period individual A wants to keep the
work another 6 months (July to December). If he/she rented for 12 months
from the beginning, the price would have been as follows: price for renting
art work for more than 6 months: 5 % of the commercial value per year;
for 12 months this is 50 Euro (1000*0,5).
However, it is not possible to retroactively lower the rent
price. Individual A will have to pay 50 Euro for the first
6 months, as stated in the original contract. To keep the work
for a longer period, in this case it is advisable to sign a
new contract for the period July to December. In most cases
the artist will agree to accept the discounted rent price (5
% of the commercial value). For the 6 months July to December
individual A therefore will have to pay 25 Euro only.
This way individual A finally paid 75 Euro for 12 months of art rental,
which is slightly more expensive than if he/she made a contract for 1 year
from the beginning (in that case the entire price would have been 50 Euro).
Anyhow, it is less expensive that just to extend the existing contract
(2 x 50 Euro, thus 100 Euro for 1 year).
Conclusion: It is tempting to sign
contracts for very short periods of time only, and frequently exchange
art works. However, short contracts are relatively expensive and frequent
exchanges of art work entail additional costs such as shipping and handling.
What happens if the renter decides to
buy a work of art after the renting period? Is the rent paid then
being deducted from the price of the art work?
The price for renting artwork is a compensation for making the
work of art available to the renter, but it is not to be understood
as a down payment for the artwork itself. However, it is possible
to deduct at least a fraction of the rent paid if the renter later
on decides to keep the art work.
Example:
Let's use a contract with
a rent being calculated as 10 % of the commercial value of the
work of art. With a work of art that costs 1000 Euros, the yearly
rent to be paid to the artist is 100 Euro.
What price does the renter
have to pay if he/she decides to keep the work of art after one
year of renting it?
If the renter A would not have rented the work
of art, but financed it with a commercial loan (1000 Euro, the
value of the work of art) by his bank, he/she would have to pay
this loan back in monthly installments. The monthly installments
would consist of interest and repayment. Depending on the type
of loan interest rates vary, but let us assume an interest rate
of 7 %. If renter A now paid 100 Euro to his/her bank (the sum
of his/her 12 monthly installments), 7 %, thus 70 Euro, would go
into covering the interest, and only 30 Euro (3 %) were a repayment
of the total sum of the loan.
After one year (and 100 Euro paid
to his/her bank) A still owes 970 Euro, because only 30 Euro were
used as a repayment.
This is why only a fraction of the rent paid
can be understood as a down payment, with the total amount depending
on the net rent actually paid.
Example: commercial value of the
work of art is 1000 Euro, renting period is 1 year.
| 5 % of the art work's value → | The rent price is... Rent price will not be deducted from purchase price. |
| 10 % of the art work's value → | ca. 30 % of the rent price, in our example 30 Euro, can be deducted from purchase price. |
| 15 % of the art work's value → | ca. 53 % of the rent price, in our example 80 Euro, can be deducted from purchase price. |
| 20 % of the art work's value → | ca. 65 % of the rent price, in our example 130 Euro, can be deducted from purchase price. |
This example is intended to illustrate the interrelationship between rent
price - interest rate - repayment, with each artist and renter
having to find their individual solution.
I am an artist, I am a consultant...
I am an artist: how can I sign up with bilderpool as a "participating artist"? Do I have to pay something? Are there criteria for inclusion?
bilderpool.org originally was conceived as a
project concentrating on German-speaking artists. This is why the
original listing of Participating
Artists only includes artists located in either Germany,
Austria or Switzerland.
Now, with the English version many more
artists from different countries would like to join. However, it
is beyond the capacities of bilderpool's founder
Karin Ulrike Soika to handle these world wide listings. This is
why she decided that
listings of artists residing outside Germany/Austria/Switzerland
should be placed into the hands of volunteers/cooperating partners
an then linked to form the original bilderpool.org website.
If you would like to become a bilderpool.org partner
and handle the listing of Participating Artists in
your country, please contact bilderpool (
). Please note the following
regarding bilderpool's policy:
- Inclusion into the "Participating Artists" listing should be free of charge
- we assume that artists that want to join are a professionals, however there is no admission panel or jury
- For each artist the following data
are being published:
- Artist's name
- short description of work/style (7 words only)
- ZIP code, City
- Web site
- Email address
- Telephone
- Thumbnail of a sample work, 40 x 40 pixels, format: .jpg or .gif file
I am a consultant and/or have an art collection
to offer …
As of autumn 2005 bilderpool.org provides
a listing of professional consultants and holders of art collections,
that can be contracted
against a fee.
Inclusion into the listing Art
Collections and Consultation requires the payment of an annual
fee, payable as a tax-deductible donation to a government-recognized
non-profit
organization providing humanitarian aid.
For publication the following data are required:
- Name of consultant/collection/gallery
- short description of what is offered (15 words only)
- ZIP code, City, Country
- Web site
- Email address
- Telephone
- Thumbnail (p. ex. logo), 40 x 40 pixels, format: .jpg or .gif file
If you are interested to be listed with bilderpool.org, please contact us directly ().
Even more questions and information…
Is there a bilderpool newsletter?
Yes, there is a bilderpool.org newsletter. If you wish to be informed regularly,
please subscribe to our newsletter by sending an email with "subscribe" in
the subject line to:
.
I still have more questions…
Please contact bilderpool at and send us your questions or commentaries.