Borro, the specialist art asset lender, has launched a new sale advance loan programme where it will lend cash against art due to be sold.
The firm will lend against assets – provided it holds them – and offer a low monthly fee in return from a percentage of the sale.
“Often, we have clients who want to sell an item through auction, or through a private transaction,” said Paul Aitken, borro CEO. “This can be a long process. Navigating around all the auction houses and sites that specialize in different categories, finding private buyers; it’s all too time consuming and challenging. Borro offers the expertise and knowledge that allows our clients to maximize the sale price of their asset by placing it in the best fitting channel of sale which might not occur for months after the decision to sell has been made.”