Art Finance in 2020: What Clients Want To Know

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Yieldstreet x Athena Art Finance has been dedicated to advancing education and dialogue regarding art lending and its potential benefits. Since inception, we’ve continued to refine our process in an effort to make it as transparent and effective as possible for our clients. Through this practice, we have identified some key takeaways that are often asked of us. We hope that this information is of value as you consider how best to optimize the liquidity locked within your collection. We encourage you to continue to challenge and work with us in creating a bespoke program that supports your goals and objectives.

What is Athena Art Finance and what service does it provide?

Athena Art Finance, a division of Yieldstreet, is dedicated to serving the needs of the global art market through specialty finance. Our bespoke lending solutions are secured by blue-chip fine art collections. We require two works of art that typically consist of blue-chip fine art as collateral. Artworks must be internationally marketable and produced by prominent artists with an existing track record in the secondary market. We provide term loans secured by fine art at what we believe are competitive interest rates for typically up to three years. Our loan offerings provide financing for existing collections or acquisitions. By leveraging art, our clients optimize the use and enjoyment of their collection, while unlocking equity and allowing further portfolio diversification.

What advance rates and loan sizes does Athena Art Finance offer against art?

We strive to maximize value, and the amount of the loan depends on the collateral artwork. The length of the loan underwriting process depends heavily on the complexity of our clients’ art ownership structure and collateral pool size. However, our deep finance experience enables Athena to be creative and process inquiries more quickly than traditional lenders.

What is the evaluation process?

We review a number of documentation requirements, including but not limited to, evidence of title, provenance, insurance coverage, and storage location, along with a description of the proposed art collateral. We work with industry leaders in art appraisal to evaluate a collection. Typically, we require an independent appraisal and inspection by a conservator. While we strongly prefer taking possession of the art, some clients may be able to retain possession or the artworks may be held in a mutually agreed upon storage facility for the duration of the loan.

If you would like to know more or are in need of liquidity, please contact Naomi Baigell, Managing Director of Client Relations, [email protected]

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