It's Time to Up Your Donation Game

We’ve gone over many reasons why it’s important and advantageous to organize and catalogue your belongings, but let’s talk a little more about Donations.

Why consider future donation opportunities when thinking about whether or not to catalogue your career assets? How will this help an Artist in the long run? As we’ve said many times, every Artist (and their Team) has a different short and long term goal for cataloging their belongings. For some, it’s personal legacy and for others it may be monetary gain. However, donations may be a better money maker/saver for Artists in the long run. Think about it, it’s often a whole lot faster and easier to donate something with a high value, than it is to sell it!

So, what does that mean for an Artists collection? Let’s break it down. First off, Artists have a lot of stuff, and they are often paying a lot of money to store things they may, or may not need or want down the line. We’ve also established that many of these items have high monetary and historical value. If an Artist has an up to date catalogue of what they have in storage, their team is able to quickly review and retrieve pieces when individuals and/or organizations reach out for silent auctions, charity or special events, and for museum purposes or permanent display.

These types of opportunities are often incredibly time sensitive, which can make simple and timely accessibility and review imperative for successful participation. As many Artist’s don’t have a catalogue to review, an Artist’s Team will often send a signed CD/Album or headshots because other, more valuable items are not immediately accessible and/or have not been reviewed or approved for donation purposes. With a catalogue in place, an Artist and their Team are able to locate important and valuable pieces quickly and efficiently, and take advantage of these charitable and money saving opportunities.

These are just a couple examples of when a catalogue might come in extra handy. BUT, there is also an added BONUS to think about. Not only will these donated pieces become potentially high value tax deductions for an Artist, but an Artist will also no longer be paying to store them! This is especially noticeable (financially) for larger items that take up a lot of storage space, helping an Artist save money in two different ways, at the same time.

The next obvious question: How do we establish the value of these items? Answer: You need to have them appraised. Appraisal information will not only be useful for donations, but also for insurance purposes and estate planning. We will talk more about appraisals in the coming months, but until then, take some time to think about what you have in storage. Are you storing things you no longer want, or that you no longer want to pay to store? Could some of these items be donated to a great cause? If you answered yes to any of these questions, it may be a good time to start thinking about the next steps to establishing a catalogue for your collection.

Until next month!

Your Friends 

@ My ARTIST ARCHIVE

P.S... Have questions? Wanna hear more about our services or speak to someone regarding scheduling an appointment.  Send us an email @ info@myartistarchive.com or fill out the form on our CONTACT page!

#DONATION #STORAGE #ORGANIZATION #CATALOGUE #DIGITIZATION #REMOTEREVIEW #TIMESAVING #MONEYSAVING