Bloomberg has a piece this week on collectors increasingly borrowing against their collection to fund new purchases, taking advantage of low interest rates to drive spending. “The collector base tends to come from credit-savvy, market-driven industries: private equity, hedge funds, tech, big data,” says Evan Beard, art-services executive at Bank of America Corp. “They built their companies using debt, and now they apply the same methodology to building art collections.”
Read more at Bloomberg
