Shinnecock Partners announced it has launched www.ArtLending.com, an innovative website to provide critical information on how to secure a loan against fine artworks for collectors and art dealers/gallerists, a $68 billion-dollar market of annual transactions and $20 billion of art loans.
“With this new website, we’ve balanced the seesaw between art loan origination and our own Art Lending Fund which invests in quality art loans,” said Shinnecock Partners Founder Alan Snyder.
After launching in May, the Shinnecock Art Lending Fund has loans against 32 artworks insured for $33 million that cover 29 artists spanning antiquities, old masters, modern and contemporary categories, including both sculptures and paintings.
Deloitte Touche Tohmatsu Limited and ArtTactic noted in their Art & Finance Report 2017 that investments in collectibles is substantial and growing. The report noted that 88% of wealth managers recommend collectibles as part of a diversified portfolio.
The market for art loans has grown 13% year-over-year. Based on estimates in the Knight Frank Wealth Report 2017, there is approximately $1.62 trillion in art collectible wealth. Thierry Ehrmann, Artprice’s founder and CEO, recently noted that art prices increased 5% in the first half of 2019 offering solid returns to art investors.
“In a world of flat interest rates, stock market volatility, the threat of economic slow-down and global trade wars, investors are seeking alternative strategies to stabilize their portfolio returns,” Snyder noted. “Art lending is a strong alternative strategy that is backed with a hard asset, fine art.”
Since the recent launch of ArtLending.com, there have already been requests for loans against $23 million in collateral.
About Shinnecock Partners L.P.
Shinnecock Partners is a 30-year-old family office investment boutique founded by Alan Snyder, formerly CEO, Chairman and President of Answer Financial, President of First Executive, CEO of Executive Life and Executive Vice President of Dean Witter (now Morgan Stanley), and Harvard Business School Baker Scholar, with a unique approach: empower investors to make informed investment decisions. Investors are empowered to do it themselves (DIY) and/or participate with Shinnecock. See www.Shinnecock.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190919005185/en/