When Paul Lester first organized an art opening in a luxury property viewing in Beverly Hills, he didn’t realize the impact it would have on the sale of the property. By showcasing significant artwork by contemporary artists alongside designer furniture in the high-end properties he was listing, Lester was able to create an elevated package that appealed to buyers looking for more than just a house.
In today’s real estate market, turnkey properties are becoming increasingly popular among buyers, especially in new constructions. This concept involves offering a fully furnished home that is ready to move into, complete with art and furniture available for purchase. This approach allows buyers to envision themselves living in the space and often leads to higher transaction values.
Companies like Creative Art Partners and Artelier play a crucial role in sourcing and curating artwork for luxury real estate projects. By commissioning pieces that are tailored to the property’s design and location, these consultancies ensure that the art complements the interiors and adds value to the overall aesthetic. This personalized approach to art selection sets these properties apart in a competitive market.
For real estate agents like Paul Lester, the artwork in luxury properties presents an additional marketing opportunity. By highlighting the artists and showcasing the story behind the art, agents can create a deeper connection with potential buyers and differentiate their listings from others on the market. This storytelling aspect adds a layer of sophistication to the property and resonates with buyers looking for a unique and curated living experience.
Art as an Investment
In some cases, the artwork in a luxury property can be as valuable as the property itself. Buyers at the highest end of the market may inquire about the possibility of purchasing the artwork along with the property, recognizing the value of the art collection as an investment. This trend highlights the growing importance of art in real estate transactions and the evolving expectations of discerning buyers.
Creating a Lifestyle Experience
Richard Gutteridge, co-head of prime central London at Savills, emphasizes the role of artwork in creating a lifestyle experience for buyers. In luxury real estate markets like Belgravia, Chelsea, Knightsbridge, and Mayfair, the art collection in a home is seen as an essential accessory that reflects the buyer’s taste and style. By leaving artwork on the walls during viewings, sellers can enhance the overall appeal of the property and engage buyers on a deeper level.
The integration of art into luxury real estate represents a new way of selling properties and engaging buyers in today’s competitive market. By curating art collections that complement the property’s design, location, and aesthetic, real estate agents and art consultancies can create unique and compelling listings that appeal to discerning buyers. This trend not only adds value to the property but also creates a lifestyle experience for buyers looking for more than just a place to live. As the intersection of art and real estate continues to evolve, it will be interesting to see how this trend shapes the future of the luxury property market.