The Los Angeles Times says art has crossed the line from esoteric to added value for home buyers. Now realtors are not only staging homes with props and decorators’ touches but adding art from galleries. The art is on loan without charge but the realtors are still paying for the art to be moved, hung and insured.
Realtor Janus Cercone told the paper it was worth the expense. So did Paul Lester:
“I’ve seen the art sell to the person buying the house, and also to the person selling,” Lester said. “And I’ve had the experience where a potential buyer isn’t right for the house, but they come back for the art.”
After one recent open house that Cercone held, film producer and director Shawn Levy didn’t make an offer but purchased a couple of Warhols, as well as pieces by Ellsworth Kelly and Robert Rauschenberg.
“You never know what will sell,” said Cercone, who noted that Realtors do not take commissions on purchased artwork. “Some buyers appreciate the vision — buying the furniture, art, accessories, even the potted plants..”