What version are you running? Don't worry about remote install, doing it on a terminal is just as "remote" on the console as it is from telnet. In other words it's exactly the same!
Download the rpms from the site.
Look at www.imagemagick.org and in the ftp sites theres a subdirectory for each major redhat version. I'v installed it with
rpm -ivh %rmpfilehere%
Some dependency problems might occur, but they are documented in the readme's.
If you need more help post!
Saludos
Gerardo