The securitization platform Griffin Art Partners opens for loans secured by works of art. The Swiss financial group plays an important role.
Griffin Art Partners , a Luxembourg-based company , is now offering one-to-three-year financing, which is backed up by a work of art or art collections with a minimum value of one million euros, according to a report from Thursday. Collectors and artisans can borrow their art assets.
Artistic works suitable for the loan, which can range from old masters to contemporary art, must fulfill strict criteria of suitability. Griffin Art Partners can operate in several countries, including Switzerland, Luxembourg and the UK.
Operation of the platform
The company Reyl Private Office (Luxembourg) is responsible for the operation of the platform and, as representative of the bond holders , ensures the application of all relevant industry standards for bond issuance.
The borrower can use the proceeds in his own discretion. In return, the borrower usually has to deposit the artwork at an external depository or in a free warehouse. Link Management has significant experience with art finance thanks to the co-ownership of artisans and investment in peer-to-peer art credits.
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