lobster
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Post by lobster on Aug 3, 2017 8:51:03 GMT
Well he/she is bagging a 16% return for six months which comes to a cool £8,000 .......... just so long as the painting wasn't composed by a 6 year old during a tantrum , because that's what it looks like  .... and yet you said above that you think the loan is "fine" ?? To my mind 16% is a fantastic return , if you are confident about the loan
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Post by 2wolfbag2 on Aug 3, 2017 10:56:06 GMT
Interesting and very worrying reading - have read the thread with interest and agreement
I've had a quick look a the valuation (as reproduced by FS) and a couple of further things worry me
1 - If you click the PDF it's titled INSVAL - presumably that's short for Insurance Valuation (cost to replace) - nothing like the value one would expect for the "genuine" article at for instance auction
2 - To me it is extremely worrying that the "expert" valuer didn't care to put his name to the document
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lobster
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Post by lobster on Aug 3, 2017 11:30:33 GMT
Interesting and very worrying reading - have read the thread with interest and agreement I've had a quick look a the valuation (as reproduced by FS) and a couple of further things worry me 1 - If you click the PDF it's titled INSVAL - presumably that's short for Insurance Valuation (cost to replace) - nothing like the value one would expect for the "genuine" article at for instance auction 2 - To me it is extremely worrying that the "expert" valuer didn't care to put his name to the document To be fair here, I have checked a number of other FS completed sales of paintings and in all cases : 1. The valuation was very brief (as in this case).
2. There was no specific name put to the valuation.
Furthermore in all cases the valuations were either by Cyzer (as in this case) or by Coram James.
Regarding the title of the PDF in this case, I think it's a bit of a stretch to read too much into what is no more than a filename.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Aug 3, 2017 12:04:48 GMT
I've tried googling for this and I can find no reference to a painting that looks anything like this ? Very strange ? There are a few paintings of the Pope by Francis Bacon, but none that resemble this. Other paintings that FS have used as security can easily be found online, eg. the recent Picasso, but not this one. I'd be interested to know if anyone else can find a reference to it. Thanks. Might have been produced by his unknown sister Frances! 
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rs
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Post by rs on Aug 3, 2017 12:32:12 GMT
Or maybe by his son who lost both arms.
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oldgrumpy
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Post by oldgrumpy on Aug 3, 2017 12:40:03 GMT
There was a distant cousin called Egsan Bacon. |
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Aug 3, 2017 12:54:06 GMT
I think it needs renaming - "Hannibal Lecter, after lunch".
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Aug 3, 2017 12:56:58 GMT
There was a distant cousin called Egsan Bacon. He wasn't a full English
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phil
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Post by phil on Aug 3, 2017 16:12:40 GMT
There was a distant cousin called Egsan Bacon. He wasn't a full English Something queer about the whole story
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Post by diversifier on Aug 3, 2017 16:30:13 GMT
Phil, please don't do that. It's 2017.
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jimbob
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Post by jimbob on Aug 4, 2017 10:44:45 GMT
I guess the question is, if you could afford it, would you buy the security yourself for your country pile or Mayfair penthouse...
Personally I wouldn't with this one, and art is worth as much as someone will pay for it...
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pa
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Post by pa on Aug 4, 2017 10:56:18 GMT
Loan has been cancelled
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debaura
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Post by debaura on Aug 4, 2017 11:21:42 GMT
Good for you FS.
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rs
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Post by rs on Aug 4, 2017 11:58:53 GMT
Does anyone know why the Bacon painting loan has been cancelled?
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oldgrumpy
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Post by oldgrumpy on Aug 4, 2017 12:12:09 GMT
Does anyone know why the Bacon painting loan has been cancelled? FS explain in their update.
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