ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 11, 2017 10:16:54 GMT
No name is available and a previous price is difficult because the painting was apparently bought straight from his studio.
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Post by dan1 on May 11, 2017 10:19:07 GMT
No name is available and a previous price is difficult because the painting was apparently bought straight from his studio. Yes and it doesn't come protected by the provision trust. I'd rather have my capital "protected" at 0.85% or capital + interest "protected" at 0.65% per month.
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littonowl
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Post by littonowl on May 11, 2017 10:46:31 GMT
Well I know nothing about art, and tend to steer clear due to its subjectivity, but on the plus side the LTV is just 40% and the auctioneer's look an experienced bunch and have successfully concluded a similar deal with unbolted before. I won't go in heavy, but will probably take a small chunk to support the platform.
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ben
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Post by ben on May 11, 2017 10:52:40 GMT
Similar know nothing about art but will take a small bit.
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Ukmikk
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Post by Ukmikk on May 11, 2017 11:13:21 GMT
Presumably the risk is higher if not protected by the PF? Does anyone know why Unbolted don't offer a higher rate to reflect this?
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keystone
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Post by keystone on May 11, 2017 11:54:48 GMT
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ozboy
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Post by ozboy on May 11, 2017 11:56:10 GMT
Seems that the auction house has been happy to put its own money on it, whatever that means. Basquiat is traded and probably has some liquid value, there's many Art sites for comparables, including this one - www.findartinfo.com/english.html
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 11, 2017 11:58:35 GMT
Ha Ha, says it all about Tracy Emin et al "Art" doesn't it!! Give me a fine Constable any day.
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fp
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Post by fp on May 11, 2017 12:13:16 GMT
I had a quick look at this out of curiosity, I note that the same auction house tried to sell one of his pieces last year, but it failed to attract any bids.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 11, 2017 14:45:43 GMT
I had a quick look at this out of curiosity, I note that the same auction house tried to sell one of his pieces last year, but it failed to attract any bids. Thanks fp, failing to attract bids is concerning, to say the least.
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Ukmikk
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Post by Ukmikk on May 11, 2017 16:06:05 GMT
I had a quick look at this out of curiosity, I note that the same auction house tried to sell one of his pieces last year, but it failed to attract any bids. Is the previously unsold piece now being used as security for this loan with Unbolted? Other concern: 'May' a strengthening £ influence the decisions of any potential buyers from overseas come July? Presumably also the estimate for the value of the asset has been provided by the loan recipient themselves (ie the auction house) rather than an independent valuation.
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fp
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Post by fp on May 11, 2017 17:58:52 GMT
I had a quick look at this out of curiosity, I note that the same auction house tried to sell one of his pieces last year, but it failed to attract any bids. Is the previously unsold piece now being used as security for this loan with Unbolted? Other concern: 'May' a strengthening £ influence the decisions of any potential buyers from overseas come July? As far as i can see, there is no name to the piece which is offered as security, so no idea if it is the same one or not, or what the piece being offer before was, and if it had a very high reserve price. It was more of an observation, most his pieces i've found went through Chrisites... These 10 pieces went for between $22 and $52 million each, so i'm sure its wroth more than a few coppers.
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ozboy
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Post by ozboy on May 11, 2017 18:28:09 GMT
I think Unbolted need to provide much more information....................... (No idea how to do that fancy Link so that they see this Posting.) EDIT: Cheers dan1 and fp (can't believe they don't monitor this Forum. Then again, maybe for the best?!!! )
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Post by dan1 on May 11, 2017 18:29:22 GMT
I think Unbolted need to provide much more information....................... (No idea how to do that fancy Link so that they see this Posting.) ashwinp
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fp
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Post by fp on May 11, 2017 20:01:42 GMT
I think Unbolted need to provide much more information....................... (No idea how to do that fancy Link so that they see this Posting.) I think you'll need to get them on live-chat, they don't visit the forum.
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