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Leasing (renting) art is a smart alternative to purchasing artwork outright.
The Crossroads Art Center leasing program is a convenient, flexible and economical way for clients to enjoy fine art in their homes and offices. Leasing is also available for special events and for home staging. The leasing agreement is made directly between you (the client) and Crossroads Art Center (the gallery.) No outside leasing company is involved.
Leasing cost: The minimum price of the artwork/s for a lease agreement is $1000. 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 20% of the price of the leased artwork.
Security Deposit: The Security Deposit is one-month lease payment.
Term: Minimum term is three (3) months to be paid when the signed agreement is submitted. Term to renew automatically by 3-month increments unless either the gallery or the client provides a written notice 30 days before the renewal date. Payments are nonrefundable. Maximum leasing term: there is no limit to the time that the client lease the artwork; however, only the first year leases charges will be applied as a credit if you, (the client) choose to exercise the right toward a buyout, as outlined below.
Termination: You, (the client), must provide us with at least two (2) weeks written notice. 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 or must be covered in your insurance policy.
Buyout: You, (the client), may purchase the leased artwork at anytime. All leasing charges paid (excluding installation charges) during the first year will be credited toward the buyout price.
Insurance: You and/or your facility must have insurance in place to cover the replacement value of the artwork. Please provide proof of insurance.
Installation cost: The gallery installation team must install the artwork, unless other arrangements have been made in writing. The installation team includes two installers. The base installation charge is $50 an hour (min. of 2 hours). Over time will be billed at $50/hr. Each additional installer, if needed, will be billed at 50/hr.
These fees are for installation in Richmond Metro Area only. Outside the area installations are available at the same rate plus travel time for installers.
Artwork Selection: Artwork doesn't always look exactly the same on a monitor as it does in person. To avoid costly mistakes, we recommend that you, (the client), view the artwork at our gallery before leasing it.
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