27 Jul 2017
Interview: Spruce Up the Office with Paintings on Lease
Question (Q): What are the benefits of leasing a painting as compared to an outright purchase?
Answer (A): Leasing paintings is a cost-effective way to eliminate the initial outlay of buying artworks outright. Leasing of paintings is convenient as it can be accounted as an annual expense.
A lot of times companies do not buy artworks as there is a valid concern as to which department within the company has the expertise to manage the collection of art works, the nitty gritty of selection, installation, storage and maintenance can be overwhelming for office staff who are not trained in this field. Leasing frees the company management of this tiresome process.
Leasing can be the first choice when the company needs to move office every few years (which is case for most Singapore-based firms). It can be challenging to fit an existing collection of art into a new office space, our paintings can be leased on an annual basis or matched with the office lease to ensure a smooth transition into a new space.
Paintings are aesthetically appealing but the most important reason why companies, big and small, lease paintings is to break the monotony, when staff and visitors are simply bored of the same look in office. Instead of remodelling the office, just by changing the paintings on the wall, a sense of freshness and renewed energy can be experienced.
Q: What made you start a lease for paintings specifically for offices?
A: Till a few years back we were only selling artworks , but in 2014 after receiving feedback from a lot of our corporate clients that they would prefer to lease if given a choice we decided to start leasing art. Leasing was more practical for them from an accounting and management point of view.
Q: How is the leasing process usually done?
A: The leasing process starts with an office visit by Paintings Etc specialist, who would go and inspect the physical space to understand the needs of the client. Measurements are taken and a meeting is set up with the decision makers who share their requirement and the look they want for their work place. Paintings Etc consultant would then email them some options to consider based on the price, size and quality of works required. The decision makers are then invited to Paintings Etc office to view the shortlisted paintings and finalise the terms of the contract.
Paintings Etc subsequently arranges the professional installation of selected paintings. The whole process is hassle free for the client as we at Paintings Etc take care of all aspects, from sourcing the work, documentation, installation and regular maintenance.
Q: Have there been customers who wanted to buy paintings that were leased to them?
A: Yes, that has happened and we do offset a part of the rental paid over the lease term when the client desires to outright purchase the work. These terms are clearly mentioned in the initial contract.
Q: Can you tell us what visitors can look forward to at your booth at Office Expo Asia 2017?
A: At Booth AB37, we have displayed a few professional works of art, just to give an idea of the kind of work that we offer. These are gallery quality paintings sourced from professional artists across Asia.
Our specialist will also be able to inform prospective clients of the entire process of bringing art to their workplace.
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