NEW YORK - Francisco Goya’s Saturn devoured his son; Damien Hirst cut a shark into pieces. Financial markets are similarly keen on slicing and dicing.
The wealthy spend a lot on art: Ignoring pandemic-scarred 2020, annual sales have averaged $65 billion since 2014, according to UBS. Collectors can unlock some of that by using their Rothko paintings as security for a loan. The wealth management arms of big banks provide credit, as do specialist firms like Athena Art Finance or Art Capital Group, as well as Sotheby’s and rival Christie’s.
Slicing a portfolio of loans into tranches of varying risk, with ratings as high as AAA, can appeal to a broad range of buyers at attractive costs.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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