Art Loan Types & Current Rates
The Art Newspaper reports that Skate's investigated the art loan industry and found that ending rates vary among the 39 businesses identified. Private banks—that generally take assets other than art into account—can go as low as 2%, while the specialist firms can charge 15% (Skate’s was only able to get rate information from 9 of the 39 firms that it lists). The majority of firms will not lend more than 40% to 50% of a work’s value, although Borro does offer up to 70%, provided it has the right to sell the work.
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