Art Rental in Toronto
By Elli Davis, June 14, 2012
Furniture is not enough to create a good atmosphere. Accessories, mirrors, candles, and very importantly art are what make a place special and unique. Just imagine a meeting in an office or a visit to a hospital; I bet most of us would feel much more at ease with some lovely pieces of art around. However, the owners of these hospitals and companies are not always willing to pay much for paintings and other pieces of art, and thus have to seek other ways to acquire artwork. If you are contemplating an art investment, you could contribute to the solution of this problem. Have you ever heard of art rental?
While the concept of art rental has been relatively well known for about a decade, many still have absolutely no idea what exactly it means. It is very simple: the investor buys a piece of art from a gallery or broker and instead of keeping it in her living room, the work is rented out. For that, she receives a return of approximately 5-9 per cent a year for a couple of years.
You do not actually have to buy original artwork, which could cost millions, to be successful. It is more than enough to purchase copies of the original printed at museum quality. These printed works can earn a nice sum of money if instead of hanging a painting on a bedroom wall, you lease it out. Once the rental period is over, the owner of the artwork has three possibilities: taking the artwork home, selling it, or continuing to earn money by renting it. See, one cannot really lose with art rental — profit is guaranteed!
To home stagers, owners/managers of hotels, restaurants, NGOs, and various offices, art rental seems like the idea of the century. The rented pieces of art would not be too expensive, yet they will help to make any place more comfortable and sophisticated at the same time. As they are not extremely costly, they can change the artwork every once in a while, as well. Also, the owner of the artwork becomes an art collector; the pieces are his / hers and he / she can keep them eventually, but he will not spend millions, as much of the investment will be returned.
For some, investing in art may seem too difficult, however, as they cannot judge the quality and possibilities of a number of interesting pieces of art. They therefore cannot decide what to buy. Sadly enough, everyone’s taste is different, and except for the works of the most prominent artists (which everyone would love to own), there is nothing with universal appeal. However, there are two general rules you ought to think of: 1) make sure everything you own is insured, and 2) do not forget, if you invest in art, that it is never for a short period — it is always for a long, long time.
As mentioned, art rental brings obvious benefits to both sides — the investors and the temporary owners. Now, tell me, does not this sound just perfect? From what I have heard and seen, I am convinced that art rental is the future! You are not going to lose anything with this type of investment, so just go for it! Toronto, a modern city, also recognizes the importance of art rental. Whether you want to rent a few nice pieces for your office or you want to be the person renting out art, these are the places worth checking out.
481 University Ave
One of the largest art museums in North America, the Art Museum of Toronto never disappoints. That also holds true for art rental. Become a member of AGO and enjoy everything it has to offer. In AGO’s Art Rental + Sales Gallery, you will find a wide variety of artwork to choose from. More than 40 of Toronto’s renowned galleries and more than 50 independent artists have contributed to the amazing collection, which is waiting for all those who would like to borrow a nice piece of art. The prices are not high; you can get lovely artwork for as little as $20 per month (4 per cent of the purchase price per month). The minimum trial period is three months, while the maximum is six, and the rental fees you pay are credited toward the total purchase price, which is beneficial for all those who would eventually like to buy a painting or two. If you want to accessorize your home with a nice piece of art for one month only, you can do so for 10 per cent of the original price. For TV/film production, rental is also possible, for 15 per cent of the purchase price of the work per week. The selection is wide; people of any taste will find something they like.
Artwork of more than 60 artists from the Greater Toronto Area is ready to be rented at Arts Etobicoke. Its Art Rental and Sales Program offers a wide range of original works, including paintings, drawings, photographs, and sculptures. You can check the online gallery to see whether you are interested in some of the works and either rent or buy any of them. Rental contracts are negotiated for 6 or 12 months and the monthly price ranges from $10 to $120 per month for pieces priced up to $11,000. Members of Arts Etobicoke have a discount on rental fees, so if you know you want to keep renting artwork, membership could well be worth it.
16 Hazelton Avenue
Original 19th and 20th century Canadian artwork is available for rent at Loch Gallery for all those who either cannot afford or do not have interest in actual purchase. Any piece of art or a collection costing $1000 or more is available for rent. You can choose to rent a piece of art with the option of eventual purchase. In this case, the minimum rental period is 24 months and the monthly payments go up to 3 per cent of the original value of the work. Just visit one of the many exhibitions taking place at the gallery over the year and decide whether this is the type of art you are interested in.
1168 Caledonia Rd.
Do you need to change your place as fast as possible? Consider using Stagers source. The company does not only offer art; it has almost anything you could want to temporarily have in your office or in an apartment you are selling. The furniture for sale or for rent was designed by top Toronto Stagers and the pieces of art it offers are pretty stylish as well. You can rent artwork for about $39 per month. Choose one that suits your needs and enjoy!
331 Queen Street East
The Allen Gallery has been known for “outstanding craftsmanship and service” for more than 30 years. It offers everything you could be looking for, from antique paintings to modern artwork. Who says you have to pick a painting to rent? If I were you, I would definitely choose one of the many amazing mirrors, since they really liven up your interior. Many fabulous pieces of art are available for rent; the price varies widely and depends on the specific item. It can be very reasonable, if needed, however.