New York Loan Company, an upscale pawnshop in Midtown Manhattan, is well-known for making collateral based loans on fine art. While the company makes pawn loans ranging anywhere from a few hundred dollars into seven figures, it can be particular about the art that it loans against. The 47th St collateral lender has strong expertise in modern and contemporary fine artists, and loans on all mediums of art, ranging from original paintings, lithographs, mixed-media, photographs, and sculptures.
Strong secondary markets, or how the art sells at an auction level, is extremely important when it comes to determining if a piece of art is eligible for a loan. Contemporary household name blue-chip artists, like Jeff Koons, Andy Warhol, Ed Ruscha, Roy Lichtenstein, Damien Hirst, Kaws, Jean-Michel Basquiat, and David Hockney, typically have strong auction records and make great collateral for a short term nonrecourse loan.
However, there is a new emerging art scene with incredibly successful artists that may have not made into the vernacular yet, but have made a large name for themselves in the art market. Oscar Murillo, Math Bass, Mary Weatherford, Jonas Wood, and Joe Bradley are all great examples of this. New York Loan offers loans on works from all of these popular artists.