LEASING TERMS – Leasing (renting) art is a smart alternative to purchasing artwork outright. Art Village Gallery’s leasing agreement is made directly between you (the client) and Art Village Gallery (the gallery.) No outside leasing company is involved.
- Leasing cost: Leasing art starts at $25 a month. There is no limit to the number of pieces leased as long as a satisfactory security deposit is provided. Monthly payments for the leasing are 4.5% of the retail value of the leased artwork. Please inquire about our corporate leasing programs.
- Term: The minimum term of the lease agreement is 12 months.
- Termination: You, (the client), may purchase the leased artwork at any time. We ask that you, (the client), not de-install or move the artwork as damages may occur in the process – any such damages are not covered by our insurance and will be deducted from your security deposit.
- Buyout: You, (the client), may purchase the leased artwork at any time. 50% of all leasing charges paid (excluding installation charges) will be credited toward the original retail price.
- Insurance: You (the client) must obtain insurance and maintain such insurance based on the retail cost specified in regard to fire, theft, natural disasters and liability and will pay over the proceeds of such insurance to gallery upon receipt of such proceeds. Notwithstanding the aforementioned, the gallery may choose to insure any or all of the leased artwork.
- Installation cost: The artwork must be installed by the gallery installation team. The installation team includes up to two installers. The base installation charge is $275 which entitles you, (the client), up to 2.5 hours of onsite installation services.
These fees are for installation in Memphis, TN only. Outside Memphis, TN installations are available at the same rate plus travel time for installers. Artwork doesn’t always look exactly the same on a website as it does in person. We recommend that you, (the client), viewing the artwork at our gallery.