Lease of artwork
The lease of an artwork is a good way of testing your desire to purchase it, of being able to change your décor periodically and thereby adding infinite variety to your pleasures without busting the budget. Leasing, with or without the option to buy, is a particularly attractive mode of access to art for professionals. Leasing costs are tax-deductable for the furnishing and decoration of professional spaces, and this throughout the duration of the contract.
In case of a leasing contract with the option to purchase, the work can be acquired at the end of the contract.This is a good way of constituting a heritage. The length of the contract is between 12 and 60 months. In case of a simple lease, the work can by agreement be exchanged every three months. The costs in connection with delivery, exchange, installation and insurance can be assumed by JF Scalbert and included in the leasing contract.
Simple leasing, monthly payments:
1% of the value of a non-mobile artwork
1.5% of a kinetic artwork
An example of monthly payments:
- For a non-mobile work with a value of 2000€, monthy payments will amount to 20€
- For a kinetic work with a value of 4000€, monthly payments will amount to 60€
With the option to purchase
1.5% of the value of a non-mobile work
2% of the value of a kinetic work
The purchase of a leased work or of another available work of one’s choice will be calculated with a deduction of 75% of the total monthly payments made.
Example of the calculation of mothly payments.
- For a non-mobile work with a value of 2000€ monthly payments would amount to 30€. Thus 75% of 1800€ after 5 years (1350€) would mean that the purchase price would amount to 650€.
- For a kinetic artwork with a value of 4000€ monthly payments would amount to 80€. Thus 75% of 4800€ after 5 years (3600€) would mean that the purchase price would amount to 400€.