[Fundyman]

The title pretty much says it all. I have an asset-based funding request for $5MM on a painting worth $25MM as per assessment.
It's not just any painting; it's a Jackson Pollock.
The borrower needs the funds for approx. 3 months in his bank account as proof of funds for acquisition of an entire collection of other paintings, & polishing work on current paintings before putting them up for sale.

I think the main issue is finding a reputable international lender like Borro.
Anyone knows who is best to go through for this type of transaction?

[apeters40]

I have some options for you. Give me a call 870.914.9880

AJ

[horizonx]

I have access to a Direct source that may be able to fund your request in 5 to 7 days if the Collateral checks out, contact me directly (golden888.cj@gmail.com)

[horizonx]

Are you still interested in a Loan on your Painting?

[abfunders]

As per the appraiser: This painting has not been properly authenticated for purchase. It would cost in the neighborhood of $25,000+/- to get it forensically authenticated along with an art historian to write the proper report. The current appraisal isn't enough to prove it is not a fake - It has good provenance, but the owner was given it as a gift, so even he didn't put down $25mm for to purchase it.

At this point, if someone wants to gamble.....

[Fundyman]

As per the appraiser: This painting has not been properly authenticated for purchase. It would cost in the neighborhood of $25,000+/- to get it forensically authenticated along with an art historian to write the proper report. The current appraisal isn't enough to prove it is not a fake - It has good provenance, but the owner was given it as a gift, so even he didn't put down $25mm for to purchase it.

At this point, if someone wants to gamble.....

That's pretty much where it's at...

[Fundyman]

Further developments on this deal are as follows (I am posting this again, but from a completely different approach):

All the borrower is really asking for is for a lender to place money in escrow for 4-6 months at a major Canadian bank in Toronto.
That will allow the borrower to do all that is necessary to prepare that particular artwork for its sale (whether or not you believe that sale will happen; buyers are pretty much already lined up.)
The sales broker is already offering to make the interest payments HIMSELF on the loan.
Keep in mind, the borrower does not need to withdraw a SINGLE DOLLAR OUT OF THE FUNDS THEMSELVES. They're simply there for him to exercise an option on the Pollock Red, which he seeks to acquire.
Not a dime can be withdrawn out of the escrow account, unless you authorize it. Nonetheless, you don't need him to withdraw all your funds at any time where the borrower wouldn't keep his end of the bargain (i.e: missed interest payments, etc...)
Basically, the guy is asking you to put up money for him to use strictly as proof of funds for him to acquire another painting over the course of 4-6 months. You collect your interest in the meantime, maintain 100% control of the funds, and charge minimum 12 months interest reserves.
Is this really a deal worth passing by?

Personally, I just wish I had the money... This is a deal for ANY investor; doesn't even have to be an ABL lender.