The trend of pawning fine art is gaining significant traction in South Africa, mirroring global shifts as individuals look for innovative ways to unlock the value of their high-end assets. Lamna Financial, a leader in high-end pawnbroking services, has reported a substantial percentage increase in loans secured against art, confirming art as a valuable and growing asset class in the financial landscape.
Charles Meyerowitz, CEO at Lamna Financial, says: “More clients are recognising that fine art can unlock substantial liquidity, similar to traditional high-value assets like vehicles or luxury watches.
“We’ve seen a growing demand for loans secured against art, with loan-to-value ratios ranging between 50-70%, depending on the quality, provenance, and market demand of the artwork.
“Many people see fine art as something to enjoy, but they may not realise that it can serve as a financial asset. Fine art is unique in that its value tends to appreciate over time.
“Pawnbroking against art allows collectors to access significant sums of money quickly without having to part with their pieces permanently.”
Denne historien er fra October 18, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 18, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Ghaaleb to extend Costa's lead
Jebel Ali-based Australian trainer Michael Costa has begun the new season in the UAE in terrific style and has already saddled eight winners.
Suny Du Loup for Abu Dhabi Prep
Racing in the UAE steps up a gear at Abu Dhabi today with the running of the HH The President Cup Prep, the first Listed race for Arabians of the new season.
Andi's Girl to take the Pudding
Sukhumvit stands out as the obvious danger.
There is nothing haphazard about Richard
Once again Richard Fourie looks the person to follow at Fairview today when they race on the Polytrack.
Emerald fetches a record R163m
Auction price exceeds that of Liz Taylor’s wedding gift from Richard Burton.
Irma Stern tops auction sales
Elite group of South African artists attract enthusiastic bids here and internationally.
Thirst-quenching sale
Inaugural auction features curated selection of the rarest Cape fine brandies.
POWER PACKED BOKS
ERASMUS: HAULS OUT THE BIG GUNS FOR MASSIVE ENGLAND SHOWDOWN
Tyson v Paul: fight or farce?
The sport of boxing has over the years never been short of its array of colourful, controversial characters and news-makers for both the right and wrong reasons.
Qualifying pressure lifts on Bafana
Bafana Bafana qualified for the 2025 Africa Cup of Nations finals yesterday without kicking a ball.
