Is it worth investing in corporate art?
I am back after the new website designing and launch. I am blogging after a long hiatus. Rather than blogging weekly, you will receive once or at the most, twice a month article. But- it would be quality content.
First of all let’s define what corporate art really is? Corporate art is an investment for the company. Whether it is a bank, office, lobby; you will see some kind of artwork adorning the walls. Not only does it enhance the employee morale and gives the space an oomph factor, it is also an investment for the company. They want that special luxurious feel so that they can stand out in the crowd.
These days corporations don’t like to hang the mass produced prints of artworks in their lobbies. Having an original and unique piece of artwork is the trend. Recently a dental practice purchased a beautiful large scale original painting from me. It transformed the overall ambiance of the facility, but the client is very happy as it is a conversation starter for new customers and also a focal point.
When the competition is tough and your new clients are judging the book by its cover (which in reality holds true), you really want your company to stand out from the competition. Every detail counts and in this case, original artwork is an extension of a business image.
Corporate art collections have been around since 1950s when David Rockefeller decided that Chase Manhattan Bank should start an art collection. Corporations started to purchase art as part of a company’s public image. Investing in a contemporary art collection can show your clients that you are a dynamic company the follows the trends. For companies in some fields this can be an important way of sub consciously communicating this message.
On the other hand, investing in local artworks shows that the company supports small businesses and artists.
Acquiring artwork for your company is not only an investment but also has other benefits. It is definitely a trend which is here to stay. According to Statista, the global art market was worth 64 billion US dollars in 2017.
At Umbreen Hasan Fine Art, we work with our clients in choosing an artwork or an art collection based on the space, budget and overall ambience the client is looking for. We also have a rental program where artworks can be rotated quarterly to freshen the look of your space. Check out the website for details on this affordable rental program.
Until next time……