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How to Obtain a Pawn Loan on Contemporary Art

There are hundreds of recent articles about the “new art market” and how contemporary art is revolutionizing the way collectors and investors are purchasing. New York Loan recognizes that while the market is always fluctuating, their unique ability to provide pawn loans against fine art remains in demand.

“We’ve watched the art market change significantly over the decades,” said Jordan Tabach-Bank, owner and CEO of New York Loan Company and its sister store Beverly Loan Company. “The one thing that remains consistent for collectors and investors alike is the necessity for a short term, cash loan.”

New York Loan Company specializes in pawn loans against modern and contemporary artwork, including pieces from David Hockney, Roy Lichtenstein, Damien Hirst, Frances Bacon, Andy Warhol, and Keith Haring. These are established artists with household names that have proven to be successful for the long-term. While New York Loan has expertise with these artists and many like them, they also acknowledge that there are many popular and thriving artists out there that may not have the same household-name success, which is why they are always happy to discuss a client’s art, whether the artist is well recognized or not.

When pawning artwork with New York Loan Company many factors must be considered, including the medium, condition, aesthetics, edition number, and the secondary market. The market of each individual piece of art is very different. An artist may have a very strong market for oil paintings, but their sketches might sell significantly lower. 

What is needed to pawn fine art at New York Loan Company? Provenance. The most important aspect of pawning fine art is possessing the proof that your artwork is indeed authentic, and that you are the legal owner. Examples of provenance include: Auction records, receipts, certificates of authenticity and appraisals. This kind of paperwork is necessary for New York Loan to purchase or pawn fine art.

The art world will most certainly continue to fluctuate, and New York Loan will be ready to lend money on fine modern and contemporary art – with new and established artists alike. If you’re interested in obtaining a loan on fine art, or just want more information, please contact New York Loan Company here

To find out more information about either location, please contact us via telephone at 212.997.5626 or via email at info@newyorkloan.com.