We are a multidisciplinary arts organization. We are devoted to presenting the work of emerging and established artists. We are market makers. We forge unique and sustaining alliances between artists, patrons and audiences alike. By ourselves and with others, we present literary and performing art events. We create and sustain both a social forum for artists, art groups, patrons of the arts; while acting as an incubator for the exchange of ideas and artistic expression.
Legend Galleries "Value Strategy" offers patrons the opportunity to concentrate on art we believe to be significantly undervalued or under -appreciated. Works that fall into this category typically have low price to-value ratios compared to the overall market, or in our opinion represent artistic merit that is undervalued. They also tend to be works with a stable or rising collector’s interest. Often, their reasonable price reflects the artist's arrival to the marketplace & in some instances constitutes the artist’s first introduction. Read More
Legend Galleries "Value Strategy" offers patrons the opportunity to concentrate on art we believe to be significantly undervalued or under -appreciated. Works that fall into this category typically have low price to-value ratios compared to the overall market, or in our opinion represent artistic merit that is undervalued. They also tend to be works with a stable or rising collector’s interest. Often, their reasonable price reflects the artist's arrival to the marketplace & in some instances constitutes the artist’s first introduction.
We seek to invest in art & artist that will benefit from multi media exposure, exhibitions & personal presentation to market makers in the art field. Such presentation & guidance will increase the upside potential for both the artist & their works to become tomorrow's change -agents in their respective fields. Significant value can also be created through a consistent promotional program oriented to provide exposure & financial rewards for both artist & patrons.
In pursuit of our Value Strategy, we seek to identify works that offer good intrinsic value within a five -to-ten-year time horizon. Typical candidates for purchase are works that may be experiencing underexposure, up & coming artist, & artist presenting new & exciting genre.
Our selection process does not target artistic qualifications, nor does it require an artist to comply with the established parameters of the art world. There are times when it is appropriate to over weigh such factors, & follow our innate sense of what expresses artistic talent & provides a real value.
Art is subjective & very personal. When creating a collection or investing in art, these key fundamentals must always be considered;
1. Your personal satisfaction with the art you select; and
2. The pleasure derived from ownership.
Hence Legend Galleries, “Value Strategy,” always centers on the patron. Never, not ever, should one invest in or purchase art one does not like! In art, personal taste, personal satisfaction, and the pleasure of ownership are everything!
Legend Galleries is in constant search for emerging artist. We provide markets for art thru the forging of "Art Alliances." Legend strives to expand its alliances by working with patrons to create tools of investment interest. Read More
Legend Galleries is in constant search for emerging artist. We provide markets for art thru the forging of "Art Alliances." Legend strives to expand its alliances by working with patrons to create tools of investment interest.
Legend Galleries creates micro markets. As a market maker, we strive to create a stable & equitable compensation program for our artist, while providing value & investment opportunity for patrons.
Many times, as a result of their collections, patrons find an additional value, whose measure cannot be represented in monetary terms. Public presence, social & cultural sharing & creation of identity are a few of the rewards that our artists nurture thru our art alliances.
We present multiple exhibition cycles. Both solo and multiple artist exhibitions can be held concurrently thru the use of "Featured Artist" and "Art Alliance Partnerships." Legend Galleries also operates exhibition opportunities thru placement of Artist’s works in private showings; all exhibition program runs concurrently with that of the main web based gallery.
All artistic submissions shall be considered for either group or solo exhibitions. Decisions regarding placement of work shall be made considering the following criteria. The appropriate forum for the exhibits presentation, how the artist’s work responds to the physical advantages & idiosyncrasies of the individual location, whether t he Artist & Alliance Partners objectives resonate & complement the other Artists invited to exhibit thru these high exposure exhibitions.
We ask the submissions contain all relevant information and documentation as follows:
| Identification | The list of works provided (as a separate document) should be concise & includes the artist’s name, title of work, date, medium, dimensions, & weight (as applicable). Other descriptions, such as special installation requirements or equipment needed should be noted. |
| Statement | The written statement should be typed or clearly written & explain the artist’s intent & working methods. All details of the work should be noted, special installation requirements, (multimedia display, other equipment requiring electricity, or safety precautions). |
| Supported Materials | Submit a current résumé & any recent reviews. Additional visual materials may be requested if the work is selected. Legend Galleries may make arrangements to photograph works for presentation on its web site. Such decisions remain at the discretion of Legend Galleries. |
| Review Process | After materials are received, the curator will review them within (30) thirty days. If the Gallery foresees an opportunity to exhibit an artist’s work, his/her materials will be placed in our Active File. This Active File serves as a resource for Legend Galleries Art Alliance in planning its exhibition schedule for the future. The Gallery will notify artists of placement in the active file & all upcoming opportunities. |
Legend Galleries will provide the artist with written documentation outlining its position regarding representation, exhibitions, excetera, for approval & execution prior to exhibition. Works of art accepted by Legend Galleries shall be placed in our program for a minimum of 12 months. Legend Galleries must exclusively represent accepted works during the duration of our relationship with the artist.
Legend Galleries reserves the right to decline any works that we feel do not meet our criteria at any time. If Legend Galleries does not anticipate an opportunity to host an artist’s work, all materials will be returned promptly.
Electronic Submission: info@legendgalleries.net
Legend offers an opportunity for the Patron to champion the role of “The Enlightened Sponsor.” Through the role of Patron, the collector is able to structure, support, and participate the fashioning of the artful process . Creating a Legend Galleries Alliance, with you in the role of Patron, can create a unique opportunity to forge a system of social ties that blend the participants into a complex network of extended family and localized alliances. Works of Art communicate signals designed to highlight and expound the Patrons’ tangible wealth and intangible social status. Art is an investment that pays dividends. Read More
Legend offers an opportunity for the Patron to champion the role of “The Enlightened Sponsor.” Through the role of Patron, the collector is able to structure, support, and participate the fashioning of the artful process . Creating a Legend Galleries Alliance, with you in the role of Patron, can create a unique opportunity to forge a system of social ties that blend the participants into a complex network of extended family and localized alliances. Works of Art communicate signals designed to highlight and expound the Patrons’ tangible wealth and intangible social status. Art is an investment that pays dividends.
Increasingly, we find that establishing a private alliance is the most effective way to structure one’s adventure into creating an art collection. Not only does this structure offer substantial tax and estate planning advantages, but also for many, it provides a means of establishing a close personal working relationship with artists, administrators, and professional advisors, all of which maintain a similar interest, art. There are two common misconceptions about creating such an alliance. The first is that it requires significant wealth. In fact, alliances can be established with varying levels of funding. Many Patrons establish an alliance with less than the full, final amount of funding, electing to provide the remainder at some future date.
The other misconception pertaining to private alliances is that they demand a great deal of the patron’s time and attention. While the successful administration of the alliance requires effort - including grant making, portfolio parameters, regulatory compliance and asset management - many delegate such tasks to professionals. Legend Galleries has brought together all the required fields of expertise. Legend offers its Patrons, Investment Alliances structured to meet their individual needs.
For those requiring minimal assistance, the gallery stays entirely in the background, handling the alliance's administrative requirements, while Patrons take the lead. Many prefer this type of arrangement, because it transforms, investment and charitable giving from a passive transaction into an ongoing activity that permits and encourages participation by members. To protect one’s privacy from non -profit solicitors and fundraisers, we serve as co -trustee of the alliance, if the patron desires, the only name that the public will ever see is ours.
Legend Galleries also assists in establishing administrative procedures for effective alliance management. This includes drafting mission statements, formulating application guidelines for acquisitions, implementing procedures for regulator y compliance, establishing community outreach strategies via portfolio showings in galleries and other appropriate venues, all of which create considerable networking opportunities.
In addition to receiving administrative services, some patrons may want us to act as their alliance office. While they want to play a role in the final selection of art, they may be apprehensive about the prospect of screening art and artist’s. In such cases, Legend Galleries can serve as co -trustee for the alliance. Through our involvement with other galleries and organizations, we are able to identify creative new ideas and initiatives to meet the emerging needs and objectives of our patrons.
For patrons interested in a comprehensive level of service, we offer consult ing. This level of service covers virtually every aspect of the process - from formulating a strategic approach to art investment to complete portfolio management and administration. Our advisors provide detailed recommendations as to the appropriate structure of alliances. We also conduct thorough evaluations and monitor expenditures. In addition, through one on one relationships, we guide young patrons and help them prepare for the responsibilities of serving on their alliance board.
Philanthropy & Investment - like any endeavor that involves finances should be part of a carefully coordinated wealth management plan. Legend Galleries enables its patrons to pursue their charitable and investment interests, while achieving important planning objectives, through our Philanthropic / Investment Alliance.
Experienced professionals help patrons choose the appropriate vehicles to meet their needs, often a private alliance, or perhaps a charitable trust. Let us show you how a portfolio can help you instill values , build confidence and create identity for your family, corporation, institution, or trust, while providing enjoyment and financial rewards.
By establishing a charitable remainder trust, patrons can pursue several important financial planning goals:
A charitable remainder trust is particularly appropriate for owners of low-cost-basis stock. By transferring ownership of the stock to the charitable remainder trust, the individual receives an immediate income tax deduction on the donation. The trust, which is exempt from capital gains taxes, then sells the stock and reinvests it in income producing assets. One or more individuals - who may include the grantor - receive payouts for a term specified in the trust, after which one or more charities receive the remainder interest.
A similar concept for benefiting split interests is the charitable lead trust, which essentially reverses the construction of the charitable remainder trust. Rather than making initial payouts to the grantor, the charitable lead trust makes payouts to a charity for a fixed number of years, at which time the remainder is left to the grantor's heirs. This technique addresses the desire of grantors to have their heirs be the ultimate recipients of their assets, and at the same time, it reduces the estate taxes that are eventually paid. When calculating the inheritance tax on the remainder of a charitable lead trust, grantors must take into account that the present value of their assets would be worth more to their heirs now than that same amount would be worth to them in the future. By delaying the inheritance, grantors can reduce the estate tax obligation for their beneficiaries.
A supporting organization is a philanthropic entity with ties to a specific public charity. Since supporting organizations are effectively treated as the equivalent of the charities they support, they can avoid many of the restrictions placed on private foundations, such as prohibitions against self -dealing (e.g., loans to family members) or minimum annual payout requirements. Perhaps most important t o donors, they can contribute virtually any type of property - including real estate and other intangible assets - to a supporting organization and receive an immediate tax deduction.
On the other hand, supporting organizations face their own unique restrictions and limitations, including a purpose test and a control test. The purpose test requires that supporting organizations serve to advance the purpose of the supported public charit y. In order to pass the control test, donors to a supporting organization must yield control of the organization to the public charity being supported.
Information in this section does not constitute legal or tax advice. We disclaim any responsibility to update you as to the changes in law or make changes to this section. You should consult with your legal, tax and financial advisors before making any decisions.
Legend Galleries specializes in structuring art rentals & leasing for tax purposes, estate planning, cash flow management & investment opportunities on virtually any type of fine art. We will review for acceptance virtually any type of authentic original & limited edition fine art from Artists, Galleries, Museums, Private Dealers & Owners -to include paintings, prints, sculpture, glass, tapestry & photographs that can be leased or rented to clients through our program. Read More
Legend Galleries specializes in structuring art rentals & leasing for tax purposes, estate planning, cash flow management & investment opportunities on virtually any type of fine art. We will review for acceptance virtually any type of authentic original & limited edition fine art from Artists, Galleries, Museums, Private Dealers & Owners -to include paintings, prints, sculpture, glass, tapestry & photographs that can be leased or rented to clients through our program.
Clients may realize substantial tax advantages by expensing rental payments - even on an appreciating asset.
Clients choose the contract term & monthly payment to meet their cash flow, tax, estate, & budgetary or contractual requirements. Legend Galleries can save your cash for other investment & business opportunities.
The contract is structured to provide for limited risk to the client. Rentals are cancelable, have no interest charges & provide for exchanges at any time throughout the rental period. All art is accompanied by complete documentation including a certificate of authenticity & detailed pedigree. Clients may return a piece within one week of receipt if it doesn't meet their requirements for any reason. Legend Galleries guarantees your satisfaction 100%. Legend remains committed to providing the fine art you desire within a financial structure that satisfies your needs.
Legend functions as a market maker and a patron of the arts; while bridging the divide between the unseen artist and the promotion of their works, we are constantly reaching out to new markets and expanding current markets. Through our Alliance Partnerships and Venture Program we offer a unique opportunity to participate one on one to further the broad based objectives we champion. Read More
We have complied a list of frequently asked questions which we hope you find helpful. To be sure this is not a complete list, nor will it substitute for the competent advice of good counsel, but it will provide a starting point from which you can venture. If you have additional questions please feel free to contact us. We look forward to providing any assistance you may require. FAQ