Art finance

Art consultancy and valuation firm Gurr Johns has launched a new money-lending business.

The potential impact of Brexit is high on the agenda at the next Art Business Conference with export licensing and the global view of the art market among the topics up for discussion.

Art lending in the UK suffered a blow this week when the government announced it was abandoning a proposed bill to reform lending laws.

Online loan provider Borro has restructured its business as part of new investment from owner Victory Park Capital.

The perceived lack of regulation and transparency in the art market is a source of concern for investment advisers, according to the latest Art & Finance Report 2017.

A Cork Street gallery has become the first in the UK to accept digital currencies such as Bitcoin.

Sotheby’s has promoted Jan Prasens to managing director of its Europe division.

Financier Falcon Fine Art has completed its first art lending deal in Belgium. The firm helped a collector in Belgium borrow against the value of a collection of 19th century “museum-quality” paintings and sculpture.

Philip Hoffman’s Fine Art Group are to launch a new finance company targeting artworks valued between $250,000 and $20m.

A shake-up of the art lending market has been proposed by the Law Commission with eventual plans for an art assets register.

Forum Auctions are to introduce a credit facility for buyers at future sales. In an exclusive arrangement with lending platform Unbolted, the new London firm will offer approved bidders the opportunity to pay for purchases with up to 90 days of interest-free finance.