Leveraging Your Art Collection With TPC Art Finance
Individuals or attorneys working on their client’s behalf often need creative solutions when seeking liquidity. Many assets can be used for a secured loan, including works of art.
Art-secured lending allows access to capital while simultaneously affording the luxury of time in order not to feel pressured into selling artwork under suboptimal conditions.
According to Naomi Baigell, Managing Director, TPC Art Finance, art-secured lending has been growing in popularity in recent years. A 2021 report from Deloitte estimated that there are between US$21.6 and US$25.2 billion in art-secured loans to private collectors in 2021, and that the overall market for art-secured loans could “further grow to an estimated US$31.3 billion by 2022.” This growth has opened the door for alternative art lending firms like TPC Art Finance (TPCAF).
TPCAF’s loans are bespoke to the client and to the situation, and their structured underwriting and proven track record, allows them to work more nimbly and quickly than many other lenders.
In addition, TPCAF does not stipulate how funds are utilized. Borrowers can use funds from an art-secured loan through TPCAF however they choose.
For attorneys who are advising clients or individuals with significant art collections but limited liquid assets, an art-backed loan can be a positive and unencumbered way forward.
To learn more about how you or your clients can benefit from art-secured lending, reach out to Naomi Baigell at naomi@tpcaf.us.
