Falcon Fine Art has completed a deal with a collector in Belgium.
The Belgian collector chose to leverage artworks that were already in storage, between exhibitions, demonstrating the role art financing can play in monetizing an asset that, without a sale, would otherwise provide little short-term value. The deal leverages a collection that includes 19th Century museum-quality paintings and sculpture.
Launched in 2014, Falcon Fine Art is a division of the Falcon Group, which has over 20 years of structured corporate financing expertise and asset-backed lending. It allows for clients to access unique formula for art financing, in which they are able to tailor solutions to the client’s specific requirements, and in many cases allow collectors to keep possession of their artworks during the financing period.
“Collectors who don’t want to sell in an uncertain market, don’t have to. That does not, however, mean that they cannot tap into the monetary value of their collections,” says Tim Hunter, Vice President of Falcon Fine Art.
Falcon Fine Art believe that this deal in Belgium demonstrates the spread of art financing throughout Europe, a region they believe has previously been under-served by financiers.
“We have financed collections in the UK and in Ireland, and the fact that we have now done so in Belgium shows that the appetite for art financing is spreading across the continent.” adds Hunter.