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Beverly Loan Company Guide to Pawning Art

Beverly Loan Company Guide to Pawning Art
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Posted in: Blog, Fine Art

There are many reasons why a person would need to obtain a collateral loan on their fine art – and Beverly Loan Company, Los Angeles’ premier pawnshop, has heard almost all of them. With an ever fluctuating art market it can be difficult for some collectors to find an immediate buyer, and usually when a person is trying to sell their beloved art, it’s because they have a liquidity issue.

This is where Beverly Loan, or ‘Pawnshop to the Stars’ steps in.  Acquiring a loan against art is simple, quick and dignified.  Instead of waiting weeks for a private sale or public auction that may or may not come through, Beverly Loan can lend you cash immediately and grant a short term asset loan.

Beverly Loan is admittedly particular about the art that they work with. “We make loans exclusively with artists that have either a strong secondary market or that are quickly emerging in the art world,” said Jordan Tabach-Bank, owner and CEO of Beverly Loan Company. “While most of our clients pay off their loans and redeem their artwork, over 90% in fact, we must be sure that if we end up owning the item we can find the right home for it”.

Some of the art pieces that have found their way into the Beverly Loan’s private offices include an original Warhol sketch, an Ed Ruscha lithograph, an Elizabeth Peyton drawing, a Kaws sculpture, a Diane Arbus photograph, and a Jeff Koons puppy vase.  Marc Chagall, Pablo Picasso, Frances Bacon, and Jean-Michael Basquiat are additional popular and household name artists that demand high dollar confidential loans from the established Beverly Hills pawnshop.

Beverly Loan is one of the few companies in the country that can make large six and seven figure loans on contemporary and modern artwork. Banks, auction houses, galleries and other financial institutions can take weeks to process a consignment or loan; Beverly Loan can make a determination in just a few days – if not a few minutes depending upon the work’s provenance .

Pawning your art is a viable option that is only gaining popularity – clients come to Beverly Hills or visit its sister store, New York Loan Company, in Manhattan from all over the country for art based collateral loans. It’s a very simple solution that often solves very complicated issues, and Tabach-Bank is happy to help. “Loans on art are usually the most interesting, and I love having conversations with other collectors who are passionate about their loan collateral.  Our clients are especially appreciative of the care we take in storing any artwork while it is in our custody.”

The most important requirement for a pawn loan against art is proper provenance (certificate of authenticity, gallery receipt, auction records, appraisal, etc.).  We request that you contact us to discuss the work and provide such provenance before coming in.  Please note that all pawn loans must be initiated in person and we must take possession of the work.  Please contact Beverly Loan electronically at art@beverlyloan.com or call 310-275-25555 with any inquiries.

 

 

 

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