Inside the Growing Market for High-End Pawn Businesses

March 20th, 2014

Baba Blumkin, via Crain'sCrain’s Business takes an inside look at the growing trend of high-end pawnshops, accommodating wealthy collectors interested in quickly monetizing their artworks.  The growing popularity of personal asset loan companies like Borro has seen more art collectors in particular using the site, like one Marc Kaye, who used the site to get a loan on a $64,000 Picasso drawing during a dry spell.  “I was in just a little pinch, and this was an elegant and discreet way to get cash,” he says.

Read more at Crain’s