Specific Lots Pre-Approved for Loans
New York, NY – April 12th, 2016 – This week, Athena Art Finance will launch its Auction Purchase Financing Program in time for the upcoming New York Spring auctions. The Program identifies specific lots that Athena has pre-approved for financing, allowing buyers the opportunity to obtain financing terms, both pre and post-auction.1 Athena will make this new program regularly available in advance of global sales by major auction houses, expanding clients’ buying opportunities.
Athena CEO Andrea Danese says “We created the Auction Purchase Financing to help simplify the process for collectors, given the short time frame between catalog publication and sale dates. Our goal is for the Program to become a highly anticipated, valuable tool for collectors in advance of future auctions.”
The lots currently pre-approved by Athena include Cy Twombly’s “Untitled’’ (on sale at Sotheby’s May 11th, with estimates provided upon request by the auction house), as well as Mark Rothko’s No. 17 (on sale at Christie’s May 10th, estimated at $30-$40 million). As the 2016 auction season unfolds, Athena will continue publish pre-approved lots.
Athena is a leading, independent lender, specializing in secured loans backed by fine art as collateral. Athena offers term-loans at competitive rates. The company was founded with $280 million of equity capital led by The Carlyle Group and the private equity unit of the Pictet Group in 2015.
Click HERE to download a PDF of the pre-qualified lots. Please note that this list will evolve and expand as future auctions are announced.
1 Pre-qualification does not guarantee eligibility for financing and is subject to standard approval review. See additional Legal Disclaimers on last page of PDF.