Draft Proposal

Leasing Art

for the Duluth Art Institute

 

by Lee Zimmerman

 

 

Lease art through the DAI (possibility)

Average price the art at 1.5 cents per sq inch per month with a $10 minimum per business. Members get the first month free. 1 cent per sq inch for residential. Like Ebay, never take possesion of the art. Online keep a list of artists, examples of their work, leasing prices and retail sales price of work. The DAI will take a 50% commision on the leasing but the artist would retain ownership. If the artist were represented by a local gallery, the DAI would split their commission with the gallery: 25% gallery, 25%DAI, 50% artist.


No invoicing only take repeat billing through credit cards. Make it easy for the leasor to change the art periodically. The DAI will take no commission if the work is sold.

The idea is to get the artwork out from the artist's storage and out into the world. Leasing is much less scary than purchasing for a business - if it doesn't work they can immediately change it, and if they move they do not have to worry about storage costs. We want the art to change because this is one of the biggest indicator of a vibrant art scene.

A painting that is 30 inches by 30 inches would be 900 sq inches and would cost $13.50 per month or $162 per year. Half of this would go to the artist who retains ownership and has their work on display ($81 per year). A rough estimate is that a painting of this size would cost retail approx. $1000. If local law office were decorated with five leased painting of about the same size and cost they would spend $810 per year vs $5000 purchasing price and the paintings can change all the time.

From the DAI point of view, if we had 50 of these leased paintings out we would be bringing in $4050 per year into the DAI. Each of the paintings could be tagged with the DAI logo and a link where they can find out more information on the painting or leasing art through the DAI.