Arty – It’s no secret that purchasing art requires deep pockets. What people often don’t consider, however, is just how much it costs to maintain a collection once it’s been amassed. There’s no hard and fast formula for figuring out how much one should expect to spend on the myriad associated costs, but experts cite figures from between 1% and 2% of the overall value of a collection to as high as 15% to 20%. The variation is due to the wide range of services—shipping, installation, insurance, security, appraisals, storage, and conservation—that may or may not be required of a particular collection. – read more
