For those who love to collect art, the hobby can become an expensive one. The desire to own a particular piece of art can lead many to go to extraordinary lengths to obtain it.
There are others who see art as an investment, and recognise that a piece of art bought now can become a valuable asset in years to come. Many people do see art investment as a valid form of investment, and in many cases the profits can be very rewarding.
Many people who are looking for loans head over to reviewsbird.com to find the best deals and cheapest products.
Art has always been a popular investment. Many artists that are now well known and highly regarded never sold a painting in their lives, but now, their paintings command eye watering prices.
The trick is to find the right artist at the right price.
Or, alternatively, you could choose a well known and well respected artist, whose work you are sure will increase in value and take a bet on them.
There is always the possibility that your gains wil far outstrip the price you’ll pay in loan interest payments, and you could well end up with a tidy profit.
You’ll need to get some good loans to buy art opinions before you go ahead and dip your toes in these waters though.
Art For Art’s Sake
Not only do people take out loans to buy art, but they also use their art as collateral for more purchases.
Once you start the cash flow, then the profits can keep on coming.
A good, valuable piece of artwork that has been valued by a loans company can then be used as backing for further loans to buy…. You guessed it – more artwork.
The process is very simple and can be very lucrative.
The value of private art collections has increased dramatically in the US in recent years, fuelled partly by changing demographics and a more prosperous society.
As a result, many wealthy people are looking for ingenious ways to invest their money and art loans have become one of those ways.
Recently, Bloomberg News ran a piece on billionaire Peter Brant. He has successfully used his artwork as collateral to secure huge loans that he has used to buy back his families various newsprint businesses.
If he successfully pays off the loans, then the pieces of artwork, that include items by artists such as Andy Warhol, will stay on the walls of his house. In fact, they will never leave his house at all.
Wealthy Brant will use the money from the new businesses to fund the repayments, and so the cycle begins again.
Invest In Art
So there you have it. Loans for art can be a lucrative business. Get it right and you could be the proud owner of the next big hit in the art world. Get it wrong though, and you’ll still have those loan repayments.… Read More...