At a time when people are searching for meaning and authenticity, art could become one of the most powerful mediums for asserting corporate identity and values: a manifesto that is both dynamic and unifying, and supports the emergence of new artists by transforming the workspace into an exhibition space.
So, to enable this meeting between Art and Business, while aligning passion and reason in an acquisition project, Alexandre Chastel and his team finance collections based on the leasinga well-known player in the automotive industry, to offer companies and the self-employed an art lease with purchase option (LOA).
First of all, how was Artquire born? How did you come up with the idea of offering art rentals to businesses and self-employed professionals?
Artquire was born out of an observation: art is a passion whose entry ticket is still too high. Leasing therefore offers a good solution for combining passion and tax optimization, while preserving cash flow and borrowing capacity. In fact, I decided to set up this company because I myself am a fan of this acquisition solution for my personal collection. My experience as a collector has been a great help in providing the best possible service to my customers and business partners.
You play an advisory role with buyers: what inspires you to suggest the right work/artist to your buyer (corporate culture, nature of the profession, nature of the clientele, etc.) and how does a well-kept work environment benefit teams and customer relations?
Financing the purchase of works of art helps stimulate artistic production in France and abroad. It’s also a great way of encouraging companies to make their environment more pleasant to live in. By bringing art into the office, employees and customers are surrounded by works of art that convey the image and values of each company.
Advisory art is a real encounter between the collector and myself. It’s all about defining the contours of your approach, then discussing your tastes, personality and motivating values. It’s a very human profession that demands patience and foresight, while being very rewarding from a personal point of view.
The leasing mechanism offers many benefits to your customers, including 100% tax-deductible rental payments and tax-advantaged cash preservation. How does it work, and what are the practical benefits?
I like to illustrate how this works with this example: think of the work as a photocopier that you rent. It’s exactly the same principle: the work of art becomes an expense in the context of office decoration and fittings, 100% deductible from operating income, with VAT recoverable. At the end of the leasing contract, the entrepreneur is free to exercise the purchase option for a residual value.
The advantages are very simple: a high degree of financial autonomy that has no impact on cash flow or borrowing capacity, and the ability to finance your collection while enjoying significant tax benefits.
By financing the purchase of works of art, you maintain a close relationship with gallery owners while retaining your independence. What does this relationship imply in terms of organization, and how do you go about it?
We openly assert our independence from the galleries because we differentiate our two activities. Our main activity remains financing the purchase of works of art. This only involves funding projects submitted by our partner gallerists and artists. Our second activity,art advisory, is a practice that stems from my passion and experience as a collector, and which I offer when a customer wants to start or expand a collection. The first step in this business is always to understand our customers’ needs and desires, so as to guide them towards the most appropriate works.
These are two very different activities, even if they are complementary. Our partners have highly eclectic artistic programs to suit a wide range of tastes and budgets.
What do you think are the major trends at the start of the year, and the artistic choices most appreciated by your customers?
Contemporary art is part of a globalized market with a high demand for novelty. If your primary aim is investment, you need to be well advised and bet on rising stocks that are well known to insiders. But I’d like to stress one important point: a work of art must be pleasurable, and that’s the first condition for investing in art: enjoy it! Taking an interest in the artist, his or her creative process and appreciating his or her aesthetics will make your collection personal and a reflection of you.
To answer the question about current trends, contemporary African art is very popular with collectors. There is an exceptional abundance of creativity on this continent, and there are now several major art world events in Africa. Some fairs in Europe, such as Menart, focus exclusively on African artists, and major galleries such as David Zwirner have created special departments dedicated to these artists.
