WE HELPED THIS COLLECTOR ACQUIRE FINE ART AT AUCTION
Channel: Auction House
Client: Fine Art Collector, 53 years old, Surrey
Assets: Fine Art worth £255,000
Loan: £140,250 (55% LTV)
BACKGROUND
Having secured the fine art at auction, the client had been given 7 days payment terms to complete the £255,000 purchase. The client approached the auction house to explain they needed to raise £140,250 to take ownership of the fine art.
OUR SOLUTION
The auction house introduced the client to Suros Capital as the client was prepared to finance the purchase and take ownership of the fine art at a later date when cashflow allowed. Suros Capital valued the fine art and agreed to advance £140,250; 55% of the hammer price. The client accepted the loan offer and the funds were transferred. Suros Capital took possession of the fine art from the auction house.
The client only required the funds for a short time whilst waiting on funds to be released from another sale and cleared the loan the following month.
INTRODUCER COMMENTS
“I am delighted with the refreshingly honest, open way in which Suros Capital goes about its business. Once I had made the initial enquiry, Suros Capital handled every aspect of the deal with the client, keeping me fully updated throughout. Their professionalism and discretion, along with the facility to lend quickly, were key reasons why the client used Suros Capital.”
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We are a specialist lending company providing loans secured against luxury assets. The group we are part of has lent over £200 million against luxury assets since 2010, and we are funded by Crestline Investors, Inc.(‘Crestline’), an institutional alternative asset manager.
Official Finance Partner of the Aston Martin Owners Club
© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. Hopkins & Jones Limited is registered in England under company number 433606. Registered office: 127 Victoria Street, London SW1E 6RD. VAT number: 238 8280 37.
Official Finance Partner of the Aston Martin Owners Club
© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. www.suroscapital.co.uk is a site operated by Hopkins & Jones Limited, registered in England under company number 433606. Registered office: 127 Victoria Street, London SW1E 6RD. VAT number: 238 8280 37.