Question to all Bankers/Former Bankers re Loan secured by art???

IDENTITY · Dec 3, 2003

About 6 months ago, I purchased 3 pieces of Andy Warhol paintings....they are worth approximately $40,000 as follows:

Hammer & Sickle 4 piece suite $18,500
Mobile Gas from the ADS portfolio $12,500
Mount Vesuvious $10,000

Recently, I was given some excellent stock picks, one of which blew up and I was not able to invest because my money was tied up in the Warhols

Does anyone know whether a bank will provide me with a loan secured by such pieces of art? Thank you for all your help!!!! I need to get in on my friend's stock tips!!!!!

blueedwards · Dec 3, 2003

i know citibank lends against art. they only deal with "high net worth" individuals for this type of loan. and, i wouldn't mention that you are putting the proceeds into the stock market.

good luck

zackzk · Dec 3, 2003

nice way to get attention..bets 200 a game and buys 40,000 paintings
what a dumass

IDENTITY · Dec 3, 2003

lol zack, dont take ur anger out on me. this is a serious question...does anyone know whether non-high worth individuals can borrow against art? thanks.

TEASERGURU · Dec 3, 2003

zackzk, is that a picture of you? I like your hat.

TEASERGURU · Dec 3, 2003

blue, you ever get up to this icy dump they call door county?

TEASERGURU · Dec 3, 2003

actually it is beautiful here in the summer.

zackzk · Dec 3, 2003

IDENTITY, maybe you would easily get a much better answer if you pick up your phone, dial your bank's phone #, talk to the loan processing department, and ask them if they lend against art
Simple.

TEASER GURU, yes that is my picture. That is why dozen other posters use it as their avatar.