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.”
This story is from the October 18, 2024 edition of The Citizen.
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This story is from the October 18, 2024 edition of The Citizen.
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