If you're an owner and need liquidity now, you pause on selling, and instead borrow against your art, waiting for better market conditions, said Adriano Picinati di Torcello, global art and finance coordinator for Deloitte.
The largest US banks are looking to broaden their reach into the art market as a way to bring on and retain some of the world's wealthiest individuals and families.
Art lending offers specific advantages for wealthy owners evaluating their investments as broader financial markets face volatility. Unlike stocks, art isn't subject to daily swings and is valued annually.
Deloitte estimates outstanding loans against art could surpass $36 billion in 2024, up from $29 billion to $34 billion last year.
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