- Client: US National looking to relocate
- Art Collection Value: Circa £50m
In this case, Enness was approached by a US entrepreneur who was looking to relocate to Europe with their family. The client had a significant art collection valued at approximately £50 million and sought to leverage these artworks as collateral to purchase a luxury home.
One of the key challenges was the client's desire to retain part of the art collection at their US residence while securing the loan against the artworks. Many of the pieces held sentimental value, which made it essential for the client to maintain the artwork's presence in their US home rather than storing it in a secure facility, which is the preferred method for most lenders.
While most lenders prefer securing high-value art in storage facilities to ensure maximum security, Enness found a solution that satisfied both the client's requirements and the lender's security concerns. We connected the client with a lender who was comfortable with leaving the artwork in the US residence. Under US jurisdiction, public records allow the lender's claim against the artwork to be formally registered, offering legal protection without the need for storage. The loan was structured with the necessary legal protections, comprehensive insurance, and regular monitoring of the artworks' condition to meet both the client's needs and the lender's security requirements.
At Enness Global, we specialise in art finance and specialised lending solutions for high-net-worth individuals. Our extensive network of over 500 lenders enables us to offer tailored financing options, ensuring bespoke arrangements that fit each client's unique needs. With years of experience in high-value art loans and a deep understanding of luxury asset financing, Enness can help you secure art-backed loans and provide efficient financing for high-value assets like artwork. Contact us today.
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