Should you loan your artwork to a commercial space?
We get this question on a regular basis. A business owner will fall in love with an artist work & instead of offering to buy it will approach the artist with a different idea.
That idea- having the artist hang their work in their business to "offer exposure" or even "let them sell it in their business". This is almost always is more detrimental to the artist than good. Its great for the business owner- after all who doesn't want to have beautiful artwork, in their space that offers a more upscale ambience, at no cost or better yet with a slice of the artists profit?
More time than not these situations lead to disappointment and disaster. Who is paying for the work a customer damaged? Who is managing any inquiries the artist receives? If the business is running sales for the artist who is ensuring the taxes are paid? What happens if the artist wants to pull their work for a show? Is there a sign that gives the artists direct contact information? Is it even the right market or is the artist risking watering down their own market? After all can you imagine a painting that retails for $15k on the wall of your local coffee shop selling for that price point during your 9am coffee run?
As with anything there are exceptions to be found, maybe its a private bank who you want to partner with? They certainly would have a market of qualified individuals being exposed to the work. Possibly its a small auto museum who wishes to display a work for a few weeks that lines up with their exhibition for an artist whose works focus on vehicles; that might make perfect sense and get their work in front of a niche market. Always know your market & your worth.
If an opportunity comes along that you cannot say no to: please reach out to us for an 'on loan' agreement template to use that can offer some protection from confusion for you and your works in these situations.
Prices for the templates start at $25 and can offer some clarity and peace of mind before moving forward.
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