artnet AG: Artnet will pilot financial services by partnering with leading asset-backed loan providers to introduce Art-Secured Lending.

NEW YORK, NY and LONDON, UK / ACCESSWIRE / 7 November 2022 / Artnet is the leading art market data and media platform and global online fine art marketplace. Art secured loan mediation program. Artnet aims to create a global and efficient art market. This new service enables and improves Artnet subscribers’ access to capital by leveraging art assets. Art has become an important alternative asset class and is increasingly used as collateral for loans. The overall market size for loans to art is expected to reach $31.3 billion by 2022. A system that drives liquidity. Facilitating access to capital is designed to support continued market growth and benefit participants across the ecosystem at all levels.

“Artnet is the home of fine arts-focused financial services, and the introduction of a lending brokerage is central to our vision of providing a comprehensive online ecosystem for the global arts market. ” Albert Neuendorf, Chief Strategy Officer, said:

Artnet is proud to launch this service as a leading financing provider together with Fine Art Group and Luxury Asset Capital. Partnership programs facilitate global access to loans ranging from $25,000 to over $10 million. In addition to fine art and other auction-quality assets, artnet clients use a variety of luxury assets such as luxury and classic cars, luxury watches, fine jewelry and diamonds, gold and silver, designer handbags and accessories. to get a loan. The service is integrated into the pricing database user experience, providing immediate access to the service for existing and new subscribers.

“Fine Art Group shares Artnet’s vision of improving access to art finance and we look forward to providing Artnet clients with cutting-edge art finance services.” Freya Stewart, Chief Executive Officer of Art Finance at The Fine Art Group, said:

“Luxury Asset Capital has been providing liquidity solutions to the fine arts community as an alternative to selling.We are proud to integrate our services with Artnet and the Artnet community.” Caitlin Conlon, Chief Revenue Officer, Luxury Asset Capital, said:

About Art Group

Founded over 20 years ago, The Fine Art Group is a market-leading provider of asset-backed loans for collectors, art dealers and owners of fine art, jewelry and watches. Fine Art Group offers flexible and bespoke financing solutions designed to meet each client’s individual requirements. A unique combination of renowned in-house artistic, financial, legal and logistical experts ensures unparalleled fast loan execution and exceptional customer service. Fine Art Group provides global financial services focused on loans of $1 million and above, and can execute loans in most of the art world’s major hubs. (https://www.fineartgroup.com)

About Luxury Asset Capital

Luxury Asset Capital is a leader in the alternative finance market, funded by the Borro, New York Loan Company and Beverly Loan Company brands, with tens of thousands of transactions and over $1 billion in loans since inception . Luxury Asset Capital provides private lenders to individuals and businesses in exchange for luxury assets held as collateral when traditional financing channels are too slow, invasive, burdensome, or in some cases unavailable. is. Luxury Asset Capital unlocks shares in a wide range of high-value, illiquid assets that trade thousands to millions of dollars in just an hour. (https://www.luxuryassetcapital.com)

About artnet

Founded in 1989, Artnet revolutionized the way people discover, explore and collect art today. With 55 million unique users per year, Artnet is the world’s largest fine art platform. Artnet’s market data is a mission-critical resource for the art industry, encompassing over 15 million auction results and AI- and ML-driven analytics that provide transparency and insight into the art market. Artnet’s marketplace connects major galleries and auction houses with a global audience, offering a curated selection of over 250,000 of his artworks for sale worldwide. A pioneering online-only auction platform, Artnet Auctions offers unprecedented reach, liquidity and efficiency. Artnet News covers the events, trends and people shaping the global art market with the latest analysis and expert commentary. Combining Artnet’s wide range of synergistic products provides a comprehensive ecosystem that drives and informs the contemporary art market.

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

Other investor-related news and publications can be found here.

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

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

contact:

Sophie Neuendorf
sneuendorf@artnet.com

sauce: Artnet AG

artnet AG, Monday, November 7, 2022, press release image

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