What To Do When Your Artist Asks To Borrow Artwork Back …And Why It’s A Good Thing

Borrowing back artwork is something that I’d never heard of until I entered the art world. It’s not surprising if you haven’t either.

An artist may ask a collector to borrow back a previously purchased artwork to have it in an art show. Artists can have art shows in galleries or juried spaces like museums or art centers. Most likely the artist submitted your piece to be in a show before it was purchased and found out after it was in your collection that it was accepted. Or, if you own work from a highly established artist, they may have early-career or retrospective shows in a museum where your piece is needed.

This recently happened to me. In January I found out that an art museum accepted one of the pieces I submitted into their curated show. I gleefully contacted my gallerist to ask for the artwork only to find out that it had sold!

So, what are you to do if you are on the collector side? Here’s what I recommend.

1. Ask questions to be sure you understand the details. When you purchased the artwork, the artist or gallerist may have mentioned this possibility to you or maybe not. You’ll want to know where the work will be shown, for how long, and who will make the arrangements.
2. Request that the institution pay for shipping and insurance (this is standard) and credit you in either the brochure or wall label. If you are working with an emerging artist and the show is in a small institution, there may not be standard insurance. Ask the artist/gallerist/curator about this upfront and come up with an arrangement that makes you feel comfortable. Perhaps you allow the artist to self-insure the work by offering to fix it or replace it with something else if it gets damaged – they made the first one after all!
3. Ask the artist/gallerist/curator for a loan agreement. Make sure that all of the conditions of the loan are clear and signed in writing. Most institutions will have a loan agreement on file.
4. Only say yes if you are comfortable with the arrangement. If the artwork is fragile or the risk of damage due to travel is high, then it is acceptable to decline. Navigating this situation could be touchy, but ultimately you own the artwork and can choose not to participate.

Now, why should you go through all this trouble?

It’s a good thing when an artist asks you to loan back a work of art. It means that the artist’s career is flourishing and the investment you made when you purchased their artwork was a good one. Each time an art piece is in a show, that specific piece increases in value. It is exciting to own artwork that has a long show history.

Most importantly, you are continuing to support the career of the artist that caught your eye. Making a living as an artist is difficult, and when a collector agrees to a loan, it’s a win for everyone.

P.S. Don’t forget to get the details on the show so that you can attend the opening reception and Instagram the heck out of the “Courtesy of your name here” acknowledgment plaque on a museum wall.