EOFY | Last chance to claim art for your workplace!

For some workplaces, the End of Financial Year spells the perfect moment to start a corporate collection. Whether you’re working from an office, showroom or home, you may be eligible to collect art as an instant-asset write-off before June 30. To get you thinking, here are five top tips to becoming a successful art collector, no matter your taste, budget or experience. 

Act soon, June 30 is almost here!

1. Consider the Medium

Drawings and graphics can be an optimal avenue for savvy collectors. Generally less expensive than paintings, works on paper can allow a collector to buy from famous artists while staying within a budget. 

2. Support Contemporary Talent

Works by up and coming artists are generally more affordable than those by established artists, while also presenting an opportunity to support living talent. Plus, new art is exciting!

3. Only Buy What you Love

This applies to all collectors, no matter your budget. As the old proverb goes: art is long, life is short.

4. Work With your Dealer

Clever collectors cultivate a relationship with their dealer. They get connected to gallery news feeds to keep up to date with new art and let their art dealer in on their taste. And when opportunity knocks and you need to find the money, consider helpful payment solutions, such as laybys or Afterpay.

5. Trade Up

Like most things, our taste in art is constantly evolving. If you find yourself in love with a work of art, consider trading it for an older work from your collection that perhaps doesn’t move you like it used to.  If your tastes have changed, try reselling works to buy new ones. It’s the cycle of art.

We’re experts in art not tax. Consult your accountant to see whether you’re eligible for tax-deductible art.

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