karibo
New Member
๐จ๏ธ 560
๐๐ป 290
August 2011
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Advice Needed - Loan Against Art, by karibo on May 3, 2021 7:32:10 GMT 1, I'm looking to get a loan against a piece of art in the UK and would like help, advice and any recommendations about how to do so. I'm a novice to this and don't know what I should be looking out for. I'd also be grateful for any recommendations. Thanks.
I'm looking to get a loan against a piece of art in the UK and would like help, advice and any recommendations about how to do so. I'm a novice to this and don't know what I should be looking out for. I'd also be grateful for any recommendations. Thanks.
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Advice Needed - Loan Against Art, by Humble Art Collector on May 3, 2021 8:39:26 GMT 1, I do not know anything about your situation but my guess is you would be better off selling the art and not have the debt hanging over your head. If you need to take a loan against a piece of art you probably are in a position where you will not be able to pay the load back quick enough and will end up losing it anyway. Odds are the art will also not appreciate enough to make it worth taking the risk and trying to hold on to it basically the fees on the loan with be greater than the appreciation.
I do not know anything about your situation but my guess is you would be better off selling the art and not have the debt hanging over your head. If you need to take a loan against a piece of art you probably are in a position where you will not be able to pay the load back quick enough and will end up losing it anyway. Odds are the art will also not appreciate enough to make it worth taking the risk and trying to hold on to it basically the fees on the loan with be greater than the appreciation.
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wave
Junior Member
๐จ๏ธ 1,046
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March 2007
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Advice Needed - Loan Against Art, by wave on May 3, 2021 9:27:16 GMT 1, Quite a few galleries offer โown artโ which is a 10 months interest free payback scheme.
Quite a few galleries offer โown artโ which is a 10 months interest free payback scheme.
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LJCal
Junior Member
๐จ๏ธ 2,980
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December 2019
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Advice Needed - Loan Against Art, by LJCal on May 3, 2021 9:32:49 GMT 1, Is this a piece you own or are looking to buy? Can you give a brief overview of the situation? Thanks
Is this a piece you own or are looking to buy? Can you give a brief overview of the situation? Thanks
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karibo
New Member
๐จ๏ธ 560
๐๐ป 290
August 2011
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Advice Needed - Loan Against Art, by karibo on May 3, 2021 9:59:54 GMT 1, Thank you all for your advice. Unfortunately the piece isn't a Bansky.
I have a consignment in a June sale and if sold at estimate will take another 45 days to receive payment. I'm looking for a short term loan using another piece of art to bridge the gap.
Hope this makes sense.
Thank you all for your advice. Unfortunately the piece isn't a Bansky.
I have a consignment in a June sale and if sold at estimate will take another 45 days to receive payment. I'm looking for a short term loan using another piece of art to bridge the gap.
Hope this makes sense.
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Eton Groover
New Member
๐จ๏ธ 975
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February 2008
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Advice Needed - Loan Against Art, by Eton Groover on May 3, 2021 10:22:45 GMT 1, Basically you need an upmarket pawn shop by the sounds of it. They may not offer much against art is itโs pretty illiquid and variable
Basically you need an upmarket pawn shop by the sounds of it. They may not offer much against art is itโs pretty illiquid and variable
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karibo
New Member
๐จ๏ธ 560
๐๐ป 290
August 2011
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Advice Needed - Loan Against Art, by karibo on May 3, 2021 10:38:48 GMT 1, Haste and urgency sometimes prevents me from seeing the woods from the trees, so I'm grateful and appreciative of each of your comments. Thanks again.
Haste and urgency sometimes prevents me from seeing the woods from the trees, so I'm grateful and appreciative of each of your comments. Thanks again.
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LJCal
Junior Member
๐จ๏ธ 2,980
๐๐ป 4,523
December 2019
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Advice Needed - Loan Against Art, by LJCal on May 3, 2021 11:34:31 GMT 1, These guys do plenty of lending against art: unbolted.com/uk/ Not cheap but it all depends what youโre using the funds for. Theyโll lend around 50% of low estimate depending on the work.
These guys do plenty of lending against art: unbolted.com/uk/Not cheap but it all depends what youโre using the funds for. Theyโll lend around 50% of low estimate depending on the work.
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rogerwu99
New Member
๐จ๏ธ 141
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April 2017
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Advice Needed - Loan Against Art, by rogerwu99 on May 3, 2021 15:58:34 GMT 1, the auction house typically will give you a loaner. Or you can go to Athena Art Finance, Bank of America, or a few other banks have art lending arms depending on the amount. Otherwise a few individuals i know in the US would loan you ... rates typically are about 2% per month with some origination fee.
the auction house typically will give you a loaner. Or you can go to Athena Art Finance, Bank of America, or a few other banks have art lending arms depending on the amount. Otherwise a few individuals i know in the US would loan you ... rates typically are about 2% per month with some origination fee.
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phildart
New Member
๐จ๏ธ 130
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September 2012
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Advice Needed - Loan Against Art, by phildart on May 3, 2021 16:10:32 GMT 1, Look at borro.com
Look at borro.com
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