Defaults on Art Loans on the Rise

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Collateral damage control. this financial times The report said that half of non-bank lenders that provide loans against art will default by 2024, a sharp increase from 17% two years ago. Arts & Finance Report 2025, publisher Deloitte Pte Ltd and artistic strategy. While this marks an improvement from 2020, when two-thirds of lenders reported defaults during the Covid-19 shutdown, it also highlights growing pressure on the sector. Harry Smith of Gur Johns Loans are now only available for top titles, the company said, as it winds down its own small-dollar lending business. The art market has been shrinking since 2022 and will fall 12% to $57.5 billion in 2024, dragging down collateral values ​​and triggering margin calls and defaults. In contrast, with the help of recourse loans, private banks have not defaulted. The report estimates that the art-backed loan market will be as high as $40 billion by 2025, with further growth by 2027, although non-bank lenders typically charge higher interest rates.

Screen culture. although AustraliaSocial media ban for under-16s aimed at protecting their mental health includes The Art Newspaper Some asked how this might affect the country’s arts institutions. “Youth audiences are increasingly a focus of Australian museums and galleries,” said Katie RussellNational Director and CEO Australian Association of Museums and Galleries (Amaga). She added: “Some social media platforms are used strategically to reach these audiences – e.g. Tik TokFor example, providing museums and galleries with the opportunity to communicate their content and collections in new, often interesting, ways and exposing younger audiences to cultural collections. “Some Australian arts organizations expect the ban to have little impact.” A spokesman for the organization Art Gallery of New South Wales Noting that people under the age of 16 make up only 0.2% of its Instagram followers, this means the legislation is unlikely to impact its content strategy or engagement beyond ensuring compliance and maintaining an accessible digital experience. Others may feel the effects more acutely. this Australian Museum of Contemporary Art50% of visitors are under the age of 35, and the site places a strong emphasis on youth engagement through digital platforms. It remains to be seen whether the ban will result in a significant drop in the museum’s total social media following.

abstract

who is Vanessa Horabuenathe Christian artist “quickly painted” an image Jesus Christ Live performances on stage during Donald TrumpNew Year’s Eve party at Mar-a-Lago? The work was auctioned for $2.75 million. [Artnet News]

art news Three Egyptologists were asked about the best things to see in the newly opened museum grand egyptian museum. [ARTnews]

NFT Paris and Royal Academy of Arts in Paris Canceled for 2026. Digital art and creativity are at the heart of both events. “this [NFT] The market crash hit us hard,” Founder Alexander Zydenko explain. [BitPinas]

this Bonnys Automotive Museum exist Scotland Has an impressive collection james bond and harry potter Movie props, including the white Lotus Esprit used in the 1977 film the spy who loved me Its founders say it could be worth “millions of dollars.” [The Standard]

atadia executive Director Barton HindleHe will step down later this month, having held the position since 2023. Paula KingThe nonprofit’s program director will serve as interim executive director during a national search. [Instagram]

kicker

The Singapore Biennale is in the crosshairs. It’s time to scrap Singapore Biennale? Obviously, according to OnsofenArt Editor, Singapore Art Magazine straight era. “Can someone kill the Singapore Biennale and put it and art lovers like me out of our collective misery?” she wrote. “Now in its eighth edition, this is Singapore’s ‘blockbuster’ contemporary art event, hosted by national arts council (NAC) and by Singapore Art Museum (SAM), barely registers on anyone’s radar. The event, which runs until March 29, 2026, feels haphazard, disconnected from the community, and inaccessible to even a staunch art lover like myself. “Ouch.