City law firm is renting art

Most of us understand the concept of leasing when it comes to our cars. Leasing art is pretty much the same. It can be beneficial to corporate and private clients alike.

For businesses, having art in the office is beneficial both to the people working there as to its customers. A nice working environment stimulates the creativity, increases office morale and helps the business attract the best employees. Towards clients the use of art will boost the positive image of the company.

Renting art, as opposed to buying it, has the advantage that it preserves the company’s working capital while also providing the tax advantage of it being treated as an operating expense. Purchased art is neither an expense nor a depreciable asset — art, by its very nature, does not devalue over time.

Private individuals can also benefit from art rental when they want a ‘try-before-you-buy’ option. Leasing the work allows one to live with it before the artwork is purchased outright. For this reason, at Yorgos Studio we offer 25% of the rent paid to be added as a credit towards the purchase of any work produced by Yorgos.

With city law firm Three Crowns renting ‘Throughout the Wide Ruling Sky’ we have launched this new part of our business.