Luxury homebuyers can now get an art collection as part of the deal

When Paul Lester joined a luxury real estate agency in Los Angeles, he decided to organize a Beverly Hills property viewing with a difference: he effectively turned it into an art opening, inviting prospective buyers of the home — and those who might be interested in purchasing the artwork he displayed in it.

Individual artworks sold, and so did the property — for a premium. “We were successful in selling the house I would say for a more of a valued number than you might expect, because the entire package was seen as elevated,” Lester told CNBC by phone. The buyer also purchased some of the art displayed.

That was more than a decade ago. Since then, Lester has made it his mandate to feature “significant” work by contemporary artists — alongside designer furniture — in the high-end properties he’s listing, which is often available to buy.

Lester, a partner at real estate firm The Agency, is currently selling several new-build luxury homes in Beverly Hills designed by architecture firm Olson Kundig, and has a put together a “full collection” of art in a handful of them.

The homes — known as The Houses at 8899 Beverly — start at around $5 million. Rather than simply being “staging” pieces brought in temporarily, the art and furniture is also available to purchase, Lester said. The Agency worked with consultancy Creative Art Partners on the homes, which feature work by a number of artists, including Michelle Mary Lee, an arts educator, and Irvin Pascal, a British sculptor and painter.

Homes that are ready to move into, known as “turnkey” properties, are becoming popular with buyers. “We do see people more than not right now — especially with new construction — wanting an entire package that works well,” Lester said. “There have been circumstances where people walk in and say ‘I want this room … I’ll take the furniture and I’ll take the art. I absolutely love it this way and is that possible?’ And we’re able to say ‘yes it is’,” Lester said.

The trick with choosing artwork for such properties is to make sure it works well with their interiors, said David Knowles, founder of art consultancy Artelier, which supplies art for real estate projects in the U.K., U.S. and the Middle East.

“It’s hard to get a kind of uniqueness and a character across if what they’re selling is a turnkey project, because the … art has got to appeal to a wide audience,” Knowles told CNBC by phone. “The art needs to feel like it belongs…