Art Consultation & Investment
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Art Consultation & Investment
About the world of Art, consultation, evaluation and investing in Art
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What Makes Art Valuable?

What Makes Art Valuable? | Art Consultation & Investment | Scoop.it
What makes a piece of art worth tens of millions dollars at auction? A number of things, but not always the things you'd think. BBC's The World's Most...
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Banks cash in on "spend and lend" strategy

Banks cash in on "spend and lend" strategy | Art Consultation & Investment | Scoop.it
Private firms already own major works and sponsor heavyweight fairs. Now they are defying the crisis by lending against art
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“Art can often represent a large portion of wealth that doesn’t generate any income [for its owners]. Unlocking this money can allow it to be used for other opportunities [outside the art market],” Michael Darriba says. “More and more people are using their collateral to get liquidity,” says Suzanne Gyorgy, an art finance manager at Citi Private Bank. Citi’s art advisory business has lent against art for more than 20 years.

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Monster Mash: George Clooney to make movie on art looting - Los Angeles Times

Monster Mash: George Clooney to make movie on art looting - Los Angeles Times | Art Consultation & Investment | Scoop.it
Los Angeles TimesMonster Mash: George Clooney to make movie on art lootingLos Angeles TimesPrestige project: George Clooney said he is planning to make a movie about the art experts who landed at Normandy to rescue art looted by the Nazis.
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Navigating the Art Loan Biz, A Surging Industry Attracting Both Big Banks and "Loan-to-Own" Sharks | Artinfo

Navigating the Art Loan Biz, A Surging Industry Attracting Both Big Banks and "Loan-to-Own" Sharks  | Artinfo | Art Consultation & Investment | Scoop.it
Some are making bank and others are going bankrupt as financial players jump into art-backed lending.
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New York has emerged as the hub for art loans, not all that surprising considering it is a hub for both the art and finance worlds. But there is a more bureaucratic reason that so many loans get finalized in the Big Apple: It's called a Uniform Commercial Code (UCC) filing, and it allows borrowers to keep the art securing their loan on their walls. A UCC filing is a legal document that allows the bank to ensure that they will be allowed to seize the artwork if the loan isn't paid back. Essentially, once a UCC has been filed, the borrower cannot sell or move the assets being used as collateral without permission from the lender. As a result, the borrower can keep the art, provided it stays in the same place with the same owner. In contrast, in the UK, Europe, and Hong Kong, there is no version of the UCC filing, which means that any artworks securing loans must be transfered to the possession of the lender — basically, for the term of the loan the art heads to a warehouse (this is how it works with many personal asset lenders, even in New York).

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Art for one and art for all

Art for one and art for all | Art Consultation & Investment | Scoop.it
In the run-up to the second annual Private Museum Forum, Charlotte Sinclair reports on the art-loving philanthropists who are bringing their extraordinary collections into the public domain
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Carey Perloff: Can The Arts Survive Without Banks?

Carey Perloff: Can The Arts Survive Without Banks? | Art Consultation & Investment | Scoop.it
The money American corporations have invested in the arts may seem negligible compared to their total profits, but as a percentage it is far higher than anything our own federal government has chosen to invest in our work, and it comes as the...
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