“This area is changing very quickly” – Kommersant FM
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Kommersant FM columnist Dmitry Butkevich talks about the most successful logisticians and bankers who provide their services to collectors.
I continue to talk about the “best figures” in the field of accompanying works of art. About advisors we talkedtoday – about logisticians and bankers.
Some collectors prefer to get the art services they need, be it shipping, storage or processing, from multiple companies that are the best in the business, while others prefer to have a single point of contact for all of the above.
This is where universal logistics companies come to the rescue. This area is changing very quickly. That’s who is leading now.
Acumen International handles both storage and shipping, as well as packaging, furnishing and servicing art fairs. Founded by art historians Seth Hernandez and Jamie Forehand in 2008, the company has grown rapidly, recently adding an international shipping and customs brokerage license.
Atelier 4: Jonathan Schwartz co-founded A4 in 1989. The firm has a government license to load packages directly on international flights, meaning customs officers won’t open collectors’ carefully packed boxes.
Atthowe Fine Art Services, Crozier, Dietl International Services, Mana Fine Arts, UOVO… The latter can even provide credit for up to half of the fair market value of works up to $25 million.
And now a few words about banks. A Deloitte report found that nearly $1.5 trillion of wealthy individuals’ wealth is tied to art and collectibles, and financial institutions play an important role in helping clients develop their collections.
The art lending market is projected to be around $31.3 billion in 2022, up 11% from last year.
Athena Art Finance, by the way, is the founder of Olivier Sarkozy, Nicolas’s half-brother. Loans – from $2 million. Bank of America – from $10 million. Citibank – from $5 million. East West Bank provides loans from $1 million to $100 million. And back in 1959, David Rockefeller launched JP Morgan Chase’s Art at Work fundraising program “
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