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As a performer: take inventory in the studio

As a performer: take inventory in the studio

Cataloging your art collection can be like going to the dentist. you know that you should to do so, but actually taking the necessary steps seems intimidating. And the longer you wait, the harder it gets.

However, without studio equipment, it's difficult to know the cost of equipment and tools in your studio, how appropriate art insurance is to protect your collection, and to get the information you need to file an insurance claim if something happens to your studio or collection.

The good news is, inventorying a studio is only painful the first time! Once the first inventory is complete, you will be able to keep track of all purchased items and artwork moving forward with a little organization.

Here's how to take a studio inventory:

1. Take photos of everything

Using a high-definition camera, take a picture of every item in your studio. We recommend a high resolution camera because you can zoom in to see details in the photo if needed. This may include but is not limited to:

  • Every piece of art in your collection
  • machinery
  • Tools
  • Art supplies

You should be doing this for marketing purposes anyway, so you are really killing two birds with one stone!

2. Estimated value of all items

Ideally, you should have two values ​​for every item in your studio: purchase price and replacement cost. The purchase price is the amount you paid when you originally purchased the items, and the replacement cost is the amount you would pay if you bought the item today.

If you've never done a studio inventory and have had a studio for a while, chances are you'll only be able to catalog replacement cost. This is fine! Do a little research on Google and document the replacement cost for each item you wish to insure at the studio.

3. Keep a current list of tools and materials

In a spreadsheet, keep a current list of items, not including your work. We recommend that you enter the following information:

  • Item type
  • Number of items
  • Price
  • Replacement price
  • Item condition

4. Organize your collection

To keep track of your work, use a cloud-based management system such as . Simply upload photos of your collection and enter all the required information, including dimensions, material, price, gallery location, sales status and more.

As a performer: take inventory in the studio

5. Reevaluate your insurance

Now that you have a better understanding of the value of items in your studio and your art collection, take the time to reevaluate your art insurance and any insurance you have taken on your studio. Need help? Check this.

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