Financial services

Artnet drives financial services through the introduction of Art-Secured Lending in partnership with leading asset-backed lending providers

NEW YORK, NY and LONDON, UK /ACCESSWIRE/November 7, 2022/ Artnet, the leading art market data and media platform, and the global online fine art marketplace, is delighted to present its Brokerage of secured art loans program. Artnet seeks to create a global and efficient art market. This new service enables and enhances Artnet subscribers’ access to capital by leveraging their artistic assets. Fine art has become an important alternative asset class, leading to its increased use as collateral against loans. The overall size of the outstanding art loan market is expected to reach $31.3 billion in 2022. Artnet aims to increase the efficiency of the art financing market by connecting its users to the best possible loan provider. , considering their loan profile, and creating a transparent system. system that stimulates liquidity. Facilitating access to capital is designed to support continued market growth to benefit ecosystem participants at all levels.

“Artnet is a natural home for fine art-focused financial services, and the introduction of loan brokerage is central to our vision to provide a holistic online ecosystem for the global art market.” said Chief Strategy Officer Albert Neuendorf.

Artnet is proud to launch this service with Fine Art Group and Luxury Asset Capital as the main loan providers. The Partnerships Program will facilitate global access to loans ranging from $25,000 to over $10 million. In addition to fine art and other auction-grade assets, Artnet clients can obtain loans using a wide variety of luxury assets, including luxury and classic cars, luxury watches, fine jewelry and diamonds, gold and silver, as well as designer handbags and accessories. The service is integrated with the Price Database user experience, providing existing and new subscribers with immediate access to the service.

“The Fine Art Group shares Artnet’s vision of improving access to art funding and we look forward to bringing our industry-leading art funding service to Artnet clients.” commented Freya Stewart, Managing Director Art Finance, The Fine Art Group.

“Luxury Asset Capital has long served the fine art community with liquidity solutions that provide an alternative to selling, and we are honored to integrate our services with Artnet and the Artnet community.” said Katelyn Conlon, chief revenue officer, Luxury Asset Capital.

About the Fine Arts Group

Founded over 20 years ago, The Fine Art Group is a leading provider of asset-backed loans to collectors, the art trade and owners of fine art, jewelry and jewelry. high quality watches. The Fine Art Group offers flexible and tailor-made financing solutions designed to meet the individual needs of each client. A unique combination of renowned in-house experts in the fields of art, finance, law and logistics ensures unparalleled speed of loan execution, as well as exceptional customer service. The Fine Art Group offers a global financing service focused on loans over $1 million, with the ability to execute loans in most major global art centers. (https://www.fineartgroup.com)

About Luxury Asset Capital

Luxury Asset Capital is a leader in the alternative finance market, with tens of thousands of transactions and over $1 billion in loans funded through its Borro, New York Loan Company and Beverly Loan Company brands since its inception. Luxury Asset Capital is a private lender to individuals and businesses in exchange for luxury assets that are held as collateral when traditional funding channels are too slow, invasive, cumbersome or, in some cases, unavailable. Luxury Asset Capital unlocks equity in a wide range of high-value, low-liquidity assets and executes transactions ranging from thousands to millions of dollars in as little as one hour. (https://www.luxuryasetcapital.com)

About Artnet

Founded in 1989, Artnet revolutionized the way people discover, research and collect art today. With 55 million unique users per year, Artnet is the largest art platform in the world. Artnet’s market data is an essential resource for the art industry, encompassing over 15 million auction results and AI and ML-based analytics, providing transparency and market insight into the art industry. ‘art. Artnet’s Marketplace connects leading galleries and auction houses to our global audience, offering a curated selection of over 250,000 works of art for sale worldwide. Artnet Auctions, the pioneering online-only auction platform, offers unprecedented reach, liquidity and efficiency. Artnet News covers the events, trends and people shaping the global art market with up-to-the-minute analysis and expert commentary. Together, Artnet’s extensive synergistic product offering provides a comprehensive ecosystem that drives and informs the modern art market.

Artnet AG is listed on the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest standards of transparency. The majority of operations are based in New York at its wholly-owned subsidiary, Artnet Worldwide Corporation, a New York-based entity founded in 1989. Artnet Worldwide Corp. has a London-based subsidiary, Artnet UK Ltd.

Other news and publications related to investor relations can be found here:

http://www.artnet.com/investor-relations/

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

Contact:

Sophie Neuendorf
sneuendorf@artnet.com

THE SOURCE: artnet AG

artnet AG, Monday, November 7, 2022, Image from press release

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https://www.accesswire.com/724404/artnet-AG-Artnet-Pilots-Financial-Services-through-the-Introduction-of-Art-Secured-Lending-in-Partnership-with-Leading-Asset-Secured- Lenders