I’ve cautioned about donating art to charities in previous Art Biz Coach Newsletters. Today’s New York Times lays it all out in “Donating Work for Charity Has a Downside for Artists.”
Among the highlights:
- Artists who create special editions and/or a series of work just for donating.
- Artists and dealers who are attaching “resale riders” to donated artwork–ensuring that the new owner doesn’t “flip” the work immediately and make a huge profit on his or her supposed charitable act.
- Organizations that are asking collectors to donate artwork instead of artists. They, after all, are able to take a full deduction in the U.S., whereas artists are only allowed to deduct the costs of materials.
Read the Times article.