Quick Pitch: Artsicle is a Netflix-style renting service for fine art.
Genius Idea: Purchasing fine art can be a frustrating project that requires traveling to multiple galleries, doing research and fretting over a decision that's hard to undo. Selling fine art, for many young artists, can be even more frustrating because galleries have limited space, and they aren't apt to show work that doesn't already have an established name behind it.
Artsicle, which launches today in New York City, aims to make the process easier on both sides with a try-before-you-buy model for selling fine art. Potential buyers pay a monthly fee of $50 for renting privileges. They can then browse Artsicle's selection of art and select a work they would like to sample. Once a renter's selected piece is delivered to her home, she can either keep it for as long as she's willing to pay the $50 monthly fee, purchase it or exchange it for another piece to test out.
CEO Alexis Tryon says the price for the art will range from about $500 to $1,500 (fairly reasonable in the art world) from hand-selected, mostly young artists.
"We believe collecting original art should be accessible for everyone," Tryon says. "We also believe in a future art economy that allows more artists to make a living from their work, while continuing to create."
The company's biggest expenses are insuring the work (obviously breakage is a concern when lugging fine art between strangers' homes) and delivery costs. In order to cover these costs, the model will need to prove a successful way to not just rent art, but sell it. Art commissions are huge -- according to University of Wisconsin's art department, they can be as much as 50%. The startup plans to charge a lower rate than most galleries, but that still leaves a lot of room for profit.
Image courtesy of ollikainen
Series Supported by Microsoft BizSpark
