Is it possible to set something up (estate maybe?) and borrow against the value of the artwork that makes up a collection?
posted by:
|
Colorado
|
-
Re: Borrowing against ones own art
Sun, May 7, 2006 - 9:09 PMI think it depends on how recognized an artist is and what your relationship is with a banking institution but I do believe under some circumstances you can still do this.
I don't have more advice than this for you but I did work for a huge collection where this was certainly done. However, among the works in the collection were such things as original Picasso and van Gogh paintings and other very famous artists will well established auction records.
-
-
Re: Borrowing against ones own art
Mon, June 12, 2006 - 6:24 PMthis might steer you in the right direction...
regarding real estate:
you may use personal property as a down payment, with a 3rd party appraisal. someone in the transaction (realtor or seller) has to WANT the item, too. ;)
good luck!
g
-
-
Re: Borrowing against ones own art
Sat, July 1, 2006 - 6:25 PMWell, I am not suggesting anything illegal or imoral but just trying to understand this better.
Suppose you had your art appraised at a particular value and your house burned down or there was an earthquake or whatever disaster.
Could you get full value of the damage, if it was appraised?
How does this work in reality?
this is sort of related to borrowing against ones own art - hopefully should help to clarify it all.
