A Complete Guide to Fine Art
Storage and Freeports

Fine Art is one of the most valuable forms of investments. However, if one does not seek the right
storage for their artwork, it can be vulnerable to destruction or worse, theft. That is why the idea of
a Fine Art Storage and Freeports came about. It is for this reason that I wanted to take the time to
prepare a detailed guide on Fine Art Storage and Freeports. In this comprehensive guide, you'll learn
how to store fine art, about freeports and what you need to consider before choosing the right
storage facility.

What makes fine art storage different from traditional storage?
What separates private storage from concierge storage?
What should you consider before choosing a fine art storage facility?
What are Freeports and how do they work?
Freeport and Customs Bonded Warehouse: which is right for you?
What makes fine art storage different from traditional storage?

For artworks, a fine art storage unit provides climate control, which always keeps the temperature
and humidity on a constant level. This is important as it keeps them stable in order to protect
artworks from damage as opposed to traditional storage units that do not have temperature control
which can include places like city storage units, garages, basements and attics.
When choosing a storage facility for your art collection you may be presented with a couple of
option to choose between a climate-controlled storage unit or a heated one. Always opt for climate-
controlled storage over heated ones. Although they cost more your art collection is an investment
and it deserves the utmost care.
Another big difference between fine art storage and traditional storage is fine art storage facilities
have many security measures in place to protect the artwork. There are cameras, alarms against
burglars, and smoke detectors. Clients must verify their identity upon entering a fine art storage
facility to ensure that only the owner or a representative enters. If a client or an art consultant is
accessing a third-party’s collection, they will always be accompanied by a storage supervisor.

2. What separates private storage from concierge storage?

Private storage units are locked and secured with a door among other security measure they have in
place and are used to house an individual’s art collection. Collectors will need to pay a fixed monthly
fee regardless of the number of art piece they choose to store. This is an excellent option for
collectors who value privacy, anonymity, and security above all else.

Concierge storage units also known as group storage are large halls which combine artworks
belonging to several different collectors. Here you will need to pay a monthly fee based on the
number of square meters you plan to occupy. One downside to concierge storage facilities is the lack
of complete privacy. There is no guarantee another collector who shares the same warehouse can’t
inspect your crates from the outside and read the labels.

3. What should you consider before choosing a fine art storage facility?

Here are four questions you should always ask in order to ensure you select the right fine art storage
facility.

I. Should I choose an external storage facility rather than storing my artwork on my own property?
If you are looking for a way to store your art collection, there are a couple of options available to
you. You can choose to store your art with a fine art storage company or create your own storage in
a property building. While creating your own storage in a property building can help reduce rental
and storage costs there are still many challenges you will need to consider before you choose to go
the private route. This can include ensuring you have adequate infrastructure, access to climate
control systems, a variety of security measures, personnel, and more.

II. Do I have an active collection as opposed to a passive one?
Think about your art collection. Are you constantly rotating your artwork in and out of storage,
perhaps for exhibiting or selling? Do you need to have access to the artwork in storage on a regular
basis?
For art collectors who want to store their collections in a safe and accessible area, luxury storage
facilities located in the heart of the city are the best option. These locations usually offer
transportation services within the city on a daily basis, which is extremely convenient. Because of
their central location, rent fees here are higher than those located in rural areas, but the advantages
are worth the price.
For those who are not interested in too much movement or are looking for a long-term storage for
their investment, a professional fine art storage facility located outside of the city would be the most
cost-effective solution.

III. Is the location an issue?
Let’s say you live in Europe and most of your art sales take place in New York. It makes sense to
consider storing your collection in the place where it is the most active—in this case, New York—in
order to save money on international shipments.

IV. What services do I need?

In order to ensure a potential fine art storage facility offers the right services you need to ask the
following questions:

Do they compile and send me monthly/quarterly reports? Is there any additional cost to receive the reports?
Will you receive access to an online account to see your reports and other important info.
Can they collect artworks from an airport on your behalf?
Will they be supplying their own specialized delivery trucks?
Will you have access to weekly/monthly shuttles to the facility?
How many viewing rooms will you have access to?
Can you get access to detailed floor plans?
What are the size and dimensions of the space?
What are their opening hours?
What are their monthly fees?

4.What are Freeports and how do they work?

Freeport is a status that allows artworks to be stored at a customs-approved location without having
to pay import taxes. Such locations are usually fine art warehouses, managed and operated by
reputable shipping companies, who act on behalf of local customs officers. These locations are
referred to as Freeports.
Freeports are subject to very strict regulations. Customs officers have the right to inspect them and
request detailed inventory lists at any time. Artworks stored in Freeport, can be restored, viewed,
photographed and sold within the Freeport warehouse only. However, if you wish to relocate the
work such as to your home, you will need to import it first, either temporarily or definitively.
Works of art can be stored in Freeports for indefinite periods. Their monthly storage costs are the
same as for any imported goods. There is no difference in rent between artworks kept inside and
outside the country as they remain subject to the same taxes.

5. Freeport and Customs Bonded Warehouse: which is right for you?

Today, almost any large city in the world can offer art storage facilities with tax-free status for its
clients. Such facilities are often referred to as Freeports, though the term is not always accurate.
They are more commonly Customs Bonded Warehouses or storage facilities with great branding.
A Bond is a customs procedure. As long as an artwork remains in Bond, its owner does not need to
pay any import taxes on it. Normally, artworks in Bond are tied to and stored in designated
warehouses, called Customs Bonded Warehouses (or simply Bonded Warehouses).
Customs Bonded Warehouses offer more flexibility than traditional Freeports. For example, artworks
can be stored in a Bonded Warehouse in London for no more than 5 years. During their time in
Bond, they can neither be sold nor restored. This is not the case for artworks stored in traditional
Freeports in Switzerland, Luxembourg or Hong Kong.

We hope this guide was able to help you gain some understanding of the difference between
freeports and fine art storage facilities. This should assist you in making the right choice for your art
collection based on what matters most to you. If you would like to get more information on storing
your artwork in freeports or fine art storage facilities or would like help with how to proceed do not
hesitate to call us or send an email.

Jacob Samuel Selects