How to calculate the price for renting art work?
: up to 6 months 10 % of the commercial value per year) for 6 months is 50 Euro (1000*0,10/12*6) After termination of the renting period individual A wants to keep the work another 6 months (July to December). If he/she rented for 12 months from the beginning, the price would have been as follows: price for renting art work for more than 6 months: 5 % of the commercial value per year; for 12 months this is 50 Euro (1000*0,5). However, it is not possible to retroactively lower the rent price. Individual A will have to pay 50 Euro for the first 6 months, as stated in the original contract. To keep the work for a longer period, in this case it is advisable to sign a new contract for the period July to December. In most cases the artist will agree to accept the discounted rent price (5 % of the commercial value). For the 6 months July to December individual A therefore will have to pay 25 Euro only. This way individual A finally paid 75 Euro for 12 months of art rental, which is slightly m
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