hendragon
Member of DD Central
Posts: 631
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Post by hendragon on Dec 8, 2017 13:45:22 GMT
I have a part of a defaulted loan in a Gwen John drawing. On one section of the updates UB state that the picture failed to sell on F**** A******* on the 5th December. One section states that it is due to be sold in an auction on the 12th December (which seems to only have lots from Banksy). I suppose the second date may be a typo, but it would be nice to have an idea of where UB intend to go with this picture. Any chance of an update please UB?
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Post by dan1 on Dec 8, 2017 14:33:11 GMT
I have a part of a defaulted loan in a Gwen John drawing. On one section of the updates UB state that the picture failed to sell on F**** A******** on the 5th December. One section states that it is due to be sold in an auction on the 12th December (which seems to only have lots from Banksy). I suppose the second date may be a typo, but it would be nice to have an idea of where UB intend to go with this picture. Any chance of an update please UB? I'm in that loan too (for the grand sum of £5.72!). The update dated 13 Oct said it would be sold on 12 Dec so I guess the auction date was brought forward by a week. I suggest you ask by the chat facility, they're unlikely to respond on the forum but are very responsible to chat, and will respond to messages left out of hours. It's a loan protected by the Provision Trust so I've less than 40p riding on this but I'm interested in the outcome all the same.
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hendragon
Member of DD Central
Posts: 631
Likes: 619
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Post by hendragon on Dec 8, 2017 15:19:54 GMT
correct about the chat dan1 . According to Ashwin they are planning to try the drawing at a lower reserve, and/or try a few dealers. Given the past happening with artworks on other platforms I rather think I will follow this one with some interest.
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Post by dan1 on Jan 31, 2018 17:04:50 GMT
Link to loan.... unbolted.com/uk/lenders/view-loan/853/Gross proceeds of £1.7k almost covered fees of £170 and lender capital of £1545, if I'm reading the loan details correctly (not trivial on Unbolted!) I guess the gross proceeds were as a result of disposal rather than an ex gratia payment from Unbolted funds?
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