Banca Sistema launches Art-Kredit
Owned art objects can also be used to obtain financing. Kruso Capitalsubsidiary of the Group Bank Systemhe threw art crediti.e. a short-term loan that is granted against the guarantee of works of art, in compliance with the maximum grantable value equal to 2/3 of the estimated value.
Art-Kredit fits into the context of art lending, a form of financing in which a work of art is used by its owner as a guarantee to obtain a credit, obtain the necessary liquidity to diversify one’s portfolio, investing in other financial operations , obtain the resources necessary to expand one’s collection or invest in the purchase of further works of art, transforming the work of art into a real operational asset.
The goods that can provide security
Assets guaranteeing the loan can be works of art or valuables (e.g. contemporary, modern, ancient art, numismatics made of materials other than gold). The works of art and objects are appraised by expert experts and their custody is covered by insurance. The duration of the loan is 6 months, renewable for the same duration at the company’s discretion.
“With this service we transform valuable objects and works of art into real assets thanks to which it is possible to obtain financing and therefore carry out projects for the future – he said Giuseppe Gentile, General Manager of Kruso Kapital- Art-Kredit is a flexible product that will increasingly allow us to maximize synergies with our auction house Art-Rite. With this in mind, experts in works of art will be available for a few days of free evaluation at the Kruso Kapital branches, already on 12 and 13 April in the Rome branch”.