Art-Secured Loans for Collectors & Dealers

As little as two weeks, if the required documents are provided in a timely fashion.

Value is determined via third-party appraisal, or from a public auction held by one of the major auction houses (Sotheby’s, Christie’s, Phillips, Bonhams) within the past two years.

There is a 1% loan origination and underwriting fee. You are also responsible for storage costs (including insurance) for the duration of the loan, as well as transportation costs to and from our chosen storage facility.

You maintain full coverage for any artwork held as collateral under your existing insurance policy. If such coverage is insufficient, we may require that the artwork be added to our own policy.

No; the loan is payable in a lump sum at the end of the term.

You may request an extension of three months or longer.  The request must be received at least 30 days prior to the loan maturity date.  Extensions are subject to re-validation of collateral value.

You may pay off your loan (and have your artwork returned to you) at any time.  Generally, a minimum interest payment is owed (the lesser of six months, or the length of the loan/extension term).

If the default is not cured within the cure period, the artwork(s) held as collateral will be sold, either privately or at auction.  Proceeds will be used to pay any outstanding balance owed, with the excess (if any) refunded to you.

If you default on either a recourse or a non-recourse loan, artwork(s) pledged as collateral are sold and the proceeds are used to repay us.

Recourse loans: If the amount owed is not covered by the net sales proceeds, we may pursue your other assets.

Non-recourse loans: If the amounts owed are not covered by the net sales proceeds, we cannot pursue your other assets.